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 position in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 40.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,985 shares of the industrial products company's stock after selling 10,015 shares during the quarter. Hyster-Yale comprises 0.3% of Granby Capital Management LLC's holdings, making the stock its 19th biggest position. Granby Capital Management LLC owned 0.08% of Hyster-Yale worth $622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Hyster-Yale during the 4th quarter worth about $417,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hyster-Yale by 16.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,616 shares of the industrial products company's stock worth $486,000 after buying an additional 1,657 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Hyster-Yale by 52.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the industrial products company's stock worth $658,000 after buying an additional 5,425 shares during the period. Truvestments Capital LLC grew its position in shares of Hyster-Yale by 89.4% during the 1st quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock worth $3,237,000 after buying an additional 36,786 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Hyster-Yale by 18.2% during the 4th quarter. Bank of America Corp DE now owns 44,693 shares of the industrial products company's stock worth $2,276,000 after buying an additional 6,870 shares during the period. 46.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

HY has been the topic of several research reports. Zacks Research raised shares of Hyster-Yale to a "strong sell" rating in a research report on Friday, August 8th. Wall Street Zen lowered Hyster-Yale from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $70.00.

Hyster-Yale Stock Performance

HY opened at $36.35 on Thursday. The stock has a market cap of $644.07 million, a price-to-earnings ratio of 29.31 and a beta of 1.53. The business has a 50 day moving average of $39.99 and a 200-day moving average of $41.43. Hyster-Yale, Inc. has a 12-month low of $34.13 and a 12-month high of $69.28. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45.

Hyster-Yale (NYSE:HY - Get Free Report) last released its quarterly 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 firm had revenue of $956.60 million for the quarter, compared to analysts' expectations of $936.90 million. On average, equities research analysts expect that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Dividend Announcement

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

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.

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