Swedbank AB Sells 10,546 Shares of Hyster-Yale, Inc. $HY

Key Points

• Swedbank AB has reduced its holdings in Hyster-Yale, Inc. by 19.7%, now owning 42,934 shares worth approximately $1.78 million.
• Hyster-Yale reported a quarterly earnings miss, with earnings per share of ($0.14) against analyst estimates of $0.26, despite revenue exceeding expectations.
• The company announced a quarterly dividend of $0.36 per share, representing an annual yield of 4.0%, with a payout ratio of 116.13%.

Swedbank AB lowered its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,934 shares of the industrial products company's stock after selling 10,546 shares during the quarter. Swedbank AB owned approximately 0.24% of Hyster-Yale worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in Hyster-Yale by 110.6% in 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 during the period. Bridgeway Capital Management LLC raised its stake in Hyster-Yale by 133.7% in 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 purchasing an additional 39,302 shares during the last quarter. Truvestments Capital LLC raised its stake in Hyster-Yale by 89.4% in the 1st quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after purchasing an additional 36,786 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Hyster-Yale by 148.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 59,433 shares of the industrial products company's stock valued at $2,469,000 after acquiring an additional 35,466 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Hyster-Yale during the 1st quarter valued at about $1,262,000. 46.47% of the stock is owned by institutional investors and hedge funds.

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 equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $70.00.

Hyster-Yale Stock Performance

HY stock traded down $1.29 during mid-day trading on Friday, reaching $36.69. The company had a trading volume of 161,923 shares, compared to its average volume of 83,025. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $650.06 million, a P/E ratio of 29.58 and a beta of 1.53. Hyster-Yale, Inc. has a one year low of $34.13 and a one year high of $69.28. The stock's 50-day simple moving average is $38.78 and its two-hundred day simple moving average is $40.22.

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

Hyster-Yale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 29th. Hyster-Yale's payout ratio is currently 116.13%.

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.