Federated Hermes Inc. Has $4.35 Million Stock Holdings in Hyster-Yale, Inc. (NYSE:HY)

Key Points

• Federated Hermes Inc. reduced its stake in Hyster-Yale, Inc. by 25.8% in Q1, now holding 104,630 shares, valued at $4.35 million.
• Hyster-Yale's stock price experienced a 2.4% increase, reaching $41.22, with a market capitalization of $729.92 million.
• The company recently announced a quarterly dividend increase to $0.36 per share, representing a yield of 3.5%.

Federated Hermes Inc. cut its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 25.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,630 shares of the industrial products company's stock after selling 36,297 shares during the quarter. Federated Hermes Inc. owned approximately 0.59% of Hyster-Yale worth $4,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HY. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Hyster-Yale during the fourth quarter worth $27,000. Mattson Financial Services LLC bought a new stake in Hyster-Yale in the 4th quarter worth approximately $36,000. KLP Kapitalforvaltning AS purchased a new position in shares of Hyster-Yale during the 4th quarter valued at $76,000. CANADA LIFE ASSURANCE Co raised its position in shares of Hyster-Yale by 164.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company's stock valued at $125,000 after buying an additional 1,535 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Hyster-Yale by 17.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,018 shares of the industrial products company's stock worth $154,000 after acquiring an additional 448 shares during the period. 46.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Hyster-Yale from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th.

Hyster-Yale Stock Up 2.4%

Shares of NYSE:HY traded up $0.98 during trading hours on Tuesday, reaching $42.33. The stock had a trading volume of 61,975 shares, compared to its average volume of 52,248. Hyster-Yale, Inc. has a 1 year low of $34.13 and a 1 year high of $72.01. The firm's 50 day moving average is $41.14 and its 200-day moving average is $43.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 1.38. The stock has a market capitalization of $749.66 million, a price-to-earnings ratio of 7.55 and a beta of 1.53.

Hyster-Yale (NYSE:HY - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.21). Hyster-Yale had a return on equity of 23.11% and a net margin of 2.39%. Research analysts predict that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.36 per share. This is a boost from Hyster-Yale's previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 30th. Hyster-Yale's payout ratio is currently 25.67%.

Hyster-Yale Company Profile

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.