Hyster-Yale, Inc. $HY Stake Lifted by Valueworks LLC

Key Points

• Valueworks LLC increased its stake in Hyster-Yale, Inc. by 10.4%, owning a total of 282,907 shares now valued at approximately $11.75 million.
• Hyster-Yale recently reported a net loss of ($0.14) EPS, significantly missing the consensus estimate of $0.26, despite revenue surpassing expectations at $956.6 million.
• The company declared a quarterly dividend of $0.36 per share, with a dividend yield of 3.7%, although its payout ratio stands at 116.13%.

Valueworks LLC lifted its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,907 shares of the industrial products company's stock after acquiring an additional 26,567 shares during the period. Hyster-Yale accounts for about 4.4% of Valueworks LLC's investment portfolio, making the stock its 8th largest position. Valueworks LLC owned 1.60% of Hyster-Yale worth $11,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Hyster-Yale in the fourth quarter valued at approximately $417,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hyster-Yale by 16.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,616 shares of the industrial products company's stock valued at $486,000 after buying an additional 1,657 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Hyster-Yale by 52.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the industrial products company's stock valued at $658,000 after buying an additional 5,425 shares during the period. Bank of America Corp DE raised its holdings in Hyster-Yale by 18.2% in the fourth quarter. Bank of America Corp DE now owns 44,693 shares of the industrial products company's stock valued at $2,276,000 after buying an additional 6,870 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Hyster-Yale by 162.5% in the fourth quarter. Two Sigma Investments LP now owns 20,426 shares of the industrial products company's stock valued at $1,040,000 after buying an additional 12,645 shares during the period. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Stock Up 6.1%

Shares of NYSE:HY opened at $39.1660 on Friday. 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, Inc. has a 52-week low of $34.13 and a 52-week high of $69.28. The company has a 50 day moving average of $40.15 and a two-hundred day moving average of $42.22. The company has a market capitalization of $694.06 million, a price-to-earnings ratio of 31.59 and a beta of 1.53.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share (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 analyst estimates of $936.90 million. As a group, analysts forecast that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.7%. Hyster-Yale's dividend payout ratio (DPR) is presently 116.13%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen lowered shares of Hyster-Yale from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Zacks Research upgraded shares of Hyster-Yale to a "strong sell" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hyster-Yale has a consensus rating of "Hold" and a consensus price target 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.

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