Hyster-Yale, Inc. $HY Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Hyster-Yale, acquiring an additional 10,180 shares, raising its total ownership to 115,461 shares, valued at approximately $4.8 million.
• Shares of Hyster-Yale rose by 2.8% to $36.99, with a market cap of $655.37 million and a P/E ratio of 29.83.
• The company announced a quarterly dividend of $0.36 per share, indicating a yield of 3.9%, despite having a high payout ratio of 116.13%.

Jacobs Levy Equity Management Inc. increased its holdings in Hyster-Yale, Inc. (NYSE:HY - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,461 shares of the industrial products company's stock after acquiring an additional 10,180 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.65% of Hyster-Yale worth $4,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. grew its position in Hyster-Yale by 10.1% during the 1st 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 raised its stake in Hyster-Yale by 10.4% during the 1st quarter. Valueworks LLC now owns 282,907 shares of the industrial products company's stock valued at $11,752,000 after acquiring an additional 26,567 shares during the last quarter. ProShare Advisors LLC lifted its position in Hyster-Yale by 16.0% during the 4th quarter. ProShare Advisors LLC now owns 144,433 shares of the industrial products company's stock worth $7,356,000 after acquiring an additional 19,975 shares during the period. Northern Trust Corp grew its stake in shares of Hyster-Yale by 5.1% in the 4th quarter. Northern Trust Corp now owns 114,787 shares of the industrial products company's stock valued at $5,846,000 after purchasing an additional 5,572 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Hyster-Yale by 32.6% in the first quarter. Vontobel Holding Ltd. now owns 107,486 shares of the industrial products company's stock valued at $4,465,000 after purchasing an additional 26,414 shares during the period. Hedge funds and other institutional investors own 46.47% of the company's stock.

Hyster-Yale Price Performance

HY stock traded down $1.11 during midday trading on Friday, hitting $35.86. 58,776 shares of the stock were exchanged, compared to its average volume of 74,599. The stock has a market cap of $635.48 million, a price-to-earnings ratio of 28.92 and a beta of 1.53. Hyster-Yale, Inc. has a fifty-two week low of $34.13 and a fifty-two week high of $69.28. The stock's 50-day moving average price is $39.35 and its 200-day moving average price is $40.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40.

Hyster-Yale (NYSE:HY - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $956.60 million for the quarter, compared to analyst estimates of $936.90 million. Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%. Research analysts predict that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 4.0%. Hyster-Yale's dividend payout ratio (DPR) is 116.13%.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Hyster-Yale to a "strong sell" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Hyster-Yale presently has a consensus rating of "Hold" and a consensus target price 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.