Hyster-Yale, Inc. $HY Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Hyster-Yale stake by 5.1% in the first quarter, owning 587,683 shares valued at approximately $19.1 million, or 3.28% of the company. Institutional investors and hedge funds collectively own 46.47% of HY.
• Hyster-Yale reported quarterly revenue of $812.9 million and an adjusted loss of $1.64 per share, beating analyst expectations, but continues to post negative margins and return on equity. Analysts expect a full-year loss of $2.75 per share.
• The company raised its quarterly dividend to $0.365, representing an annualized dividend of $1.46 and a 4.0% yield. Wall Street’s overall rating is Hold, with a $47.50 average price target despite mixed buy, hold and sell recommendations.

Dimensional Fund Advisors LP grew its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 5.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 587,683 shares of the industrial products company's stock after acquiring an additional 28,642 shares during the period. Dimensional Fund Advisors LP owned about 3.28% of Hyster-Yale worth $19,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi boosted its position in shares of Hyster-Yale by 3.8% during the 4th quarter. Amundi now owns 9,013 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 334 shares in the last quarter. Legal & General Group Plc increased its holdings in Hyster-Yale by 7.6% in the second quarter. Legal & General Group Plc now owns 9,284 shares of the industrial products company's stock worth $369,000 after purchasing an additional 654 shares in the last quarter. Intech Investment Management LLC lifted its stake in Hyster-Yale by 19.2% in the third quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company's stock valued at $237,000 after buying an additional 1,036 shares during the period. Rhumbline Advisers raised its holdings in shares of Hyster-Yale by 7.0% during the second quarter. Rhumbline Advisers now owns 18,430 shares of the industrial products company's stock valued at $733,000 after purchasing an additional 1,206 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Hyster-Yale by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 10,861 shares of the industrial products company's stock worth $400,000 after purchasing an additional 1,270 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Price Performance

Shares of HY stock opened at $36.85 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.28. The firm has a market cap of $660.28 million, a P/E ratio of -5.62 and a beta of 1.62. The business's 50 day moving average price is $34.73 and its 200-day moving average price is $35.14. Hyster-Yale, Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $41.30.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported ($1.64) EPS for the quarter, topping the consensus estimate of ($2.20) by $0.56. Hyster-Yale had a negative net margin of 3.33% and a negative return on equity of 21.03%. The business had revenue of $812.90 million during the quarter, compared to analyst estimates of $804.62 million. On average, equities research analysts anticipate that Hyster-Yale, Inc. will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were given a $0.365 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Hyster-Yale's previous quarterly dividend of $0.36. Hyster-Yale's payout ratio is currently -22.26%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HY. Roth Capital reissued a "buy" rating and set a $45.00 target price on shares of Hyster-Yale in a research report on Thursday. Weiss Ratings reiterated a "sell (d)" rating on shares of Hyster-Yale in a research note on Monday. Zacks Research upgraded shares of Hyster-Yale from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of Hyster-Yale from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.50.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company's product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source