PNC Financial Services Group Inc. Has $2.47 Million Stock Position in Hyster-Yale, Inc. (NYSE:HY)

Key Points

• PNC Financial Services Group Inc. has increased its stake in Hyster-Yale, Inc. by 148%, acquiring a total of 59,433 shares worth approximately $2.47 million.
• The company has recently increased its quarterly dividend from $0.35 to $0.36 per share, resulting in a 4.0% dividend yield.
• Hyster-Yale reported a loss of ($0.14) earnings per share for the last quarter, missing the consensus estimate of $0.26, but achieved revenue of $956.60 million, exceeding expectations.

PNC Financial Services Group Inc. lifted its stake in shares of Hyster-Yale, Inc. (NYSE:HY - Free Report) by 148.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,433 shares of the industrial products company's stock after acquiring an additional 35,466 shares during the quarter. PNC Financial Services Group Inc. owned 0.34% of Hyster-Yale worth $2,469,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HY. Dimensional Fund Advisors LP raised its holdings in Hyster-Yale by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 515,809 shares of the industrial products company's stock valued at $26,270,000 after buying an additional 5,366 shares in the last quarter. ProShare Advisors LLC raised its holdings in Hyster-Yale by 16.0% during the fourth quarter. ProShare Advisors LLC now owns 144,433 shares of the industrial products company's stock valued at $7,356,000 after buying an additional 19,975 shares in the last quarter. Northern Trust Corp raised its holdings in Hyster-Yale by 5.1% during the fourth quarter. Northern Trust Corp now owns 114,787 shares of the industrial products company's stock valued at $5,846,000 after buying an additional 5,572 shares in the last quarter. Vontobel Holding Ltd. raised 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 valued at $4,465,000 after buying an additional 26,414 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Hyster-Yale by 20.8% during the fourth quarter. Millennium Management LLC now owns 99,255 shares of the industrial products company's stock valued at $5,055,000 after buying an additional 17,120 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

Hyster-Yale Stock Performance

Shares of Hyster-Yale stock traded up $0.91 during trading on Wednesday, reaching $37.99. The company's stock had a trading volume of 17,645 shares, compared to its average volume of 73,982. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40. The business's fifty day moving average price is $40.77 and its 200-day moving average price is $43.03. The firm has a market cap of $672.73 million, a price-to-earnings ratio of 30.60 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.

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

Hyster-Yale Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Hyster-Yale from a "buy" rating to a "hold" rating in a report on Thursday, May 8th.

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.