Granby Capital Management LLC Sells 10,015 Shares of Hyster-Yale, Inc. $HY

Key Points

• Granby Capital Management LLC reduced its stake in Hyster-Yale, Inc. by 40.1%, selling 10,015 shares, which now represents 0.3% of its total holdings.
• Hyster-Yale recently faced mixed analyst ratings, with a "strong sell" rating from Zacks Research and a "hold" rating from Wall Street Zen, reflecting uncertainty about the stock's future performance.
• The company announced a quarterly dividend of $0.36 per share, with a 4.0% yield, although its dividend payout ratio is high at 116.13%.

Granby Capital Management LLC reduced its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 40.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,985 shares of the industrial products company's stock after selling 10,015 shares during the quarter. Hyster-Yale comprises approximately 0.3% of Granby Capital Management LLC's holdings, making the stock its 19th largest position. Granby Capital Management LLC owned about 0.08% of Hyster-Yale worth $622,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HY. AQR Capital Management LLC grew its holdings in Hyster-Yale by 110.6% during the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock valued at $3,306,000 after buying an additional 41,795 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Hyster-Yale by 133.7% during the 1st quarter. Bridgeway Capital Management LLC now owns 68,701 shares of the industrial products company's stock valued at $2,854,000 after buying an additional 39,302 shares in the last quarter. Truvestments Capital LLC grew its holdings in Hyster-Yale by 89.4% during the 1st quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after buying an additional 36,786 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Hyster-Yale by 148.0% in the first quarter. PNC Financial Services Group Inc. now owns 59,433 shares of the industrial products company's stock valued at $2,469,000 after purchasing an additional 35,466 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Hyster-Yale in the first quarter valued at $1,262,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Trading Down 3.2%

Shares of NYSE:HY traded down $1.20 on Tuesday, hitting $36.36. 36,055 shares of the company's stock were exchanged, compared to its average volume of 74,273. Hyster-Yale, Inc. has a 12 month low of $34.13 and a 12 month high of $69.28. The stock has a market capitalization of $644.21 million, a price-to-earnings ratio of 29.31 and a beta of 1.53. The business's 50 day simple moving average is $39.83 and its two-hundred day simple moving average is $40.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 0.65.

Hyster-Yale (NYSE:HY - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.40). Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%.The business had revenue of $956.60 million for the quarter, compared to the consensus estimate of $936.90 million. Analysts anticipate that Hyster-Yale, Inc. will post 8.85 EPS for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 29th. Hyster-Yale's dividend payout ratio (DPR) is 116.13%.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Hyster-Yale to a "strong sell" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $70.00.

Hyster-Yale 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.