Goldman Sachs Group Inc. Sells 12,113 Shares of Hyster-Yale, Inc. $HY

Key Points

• Goldman Sachs Group Inc. reduced its stake in Hyster-Yale, Inc. by 14.2%, holding 73,337 shares valued at approximately $3.05 million after selling 12,113 shares during the first quarter.
• The company reported an earnings miss for the quarter ending August 5, with a loss of ($0.14) EPS compared to analysts' expectations of $0.26.
• Hyster-Yale announced a quarterly dividend of $0.36 per share, representing an annualized yield of 3.9%, despite a high dividend payout ratio of 116.13%.

Goldman Sachs Group Inc. decreased its holdings in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,337 shares of the industrial products company's stock after selling 12,113 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.41% of Hyster-Yale worth $3,046,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in Hyster-Yale by 10.1% during the first quarter. American Century Companies Inc. now owns 302,815 shares of the industrial products company's stock worth $12,579,000 after purchasing an additional 27,891 shares during the last quarter. Valueworks LLC boosted its holdings in Hyster-Yale by 10.4% during the first quarter. Valueworks LLC now owns 282,907 shares of the industrial products company's stock worth $11,752,000 after purchasing an additional 26,567 shares during the last quarter. Millennium Management LLC boosted its holdings in Hyster-Yale by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company's stock worth $4,967,000 after purchasing an additional 20,305 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Hyster-Yale by 9.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 115,461 shares of the industrial products company's stock worth $4,796,000 after purchasing an additional 10,180 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Hyster-Yale by 32.6% during the first quarter. Vontobel Holding Ltd. now owns 107,486 shares of the industrial products company's stock worth $4,465,000 after purchasing an additional 26,414 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Wall Street Analyst Weigh In

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

Hyster-Yale Price Performance

HY stock traded up $0.68 during mid-day trading on Tuesday, hitting $37.78. The stock had a trading volume of 2,743 shares, compared to its average volume of 75,318. The company has a current ratio of 1.40, a quick ratio of 0.65 and a debt-to-equity ratio of 0.45. Hyster-Yale, Inc. has a 52 week low of $34.13 and a 52 week high of $69.28. The firm has a market capitalization of $669.46 million, a P/E ratio of 30.47 and a beta of 1.53. The firm has a fifty day simple moving average of $38.69 and a 200 day simple moving average of $40.10.

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 $0.26 by ($0.40). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The firm had revenue of $956.60 million during the quarter, compared to the consensus estimate of $936.90 million. As a group, research analysts forecast that Hyster-Yale, Inc. will post 8.85 EPS for the current year.

Hyster-Yale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.8%. Hyster-Yale's payout ratio is 116.13%.

About Hyster-Yale

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.