Jacobs Levy Equity Management Inc. Purchases 10,180 Shares of Hyster-Yale, Inc. $HY

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% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 115,461 shares of the industrial products company's stock after buying an additional 10,180 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.65% of Hyster-Yale worth $4,796,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HY. Point72 Asia Singapore Pte. Ltd. bought a new stake in Hyster-Yale in the 4th quarter worth about $27,000. Mattson Financial Services LLC bought a new stake in Hyster-Yale in the 4th quarter worth about $36,000. US Bancorp DE increased its holdings in Hyster-Yale by 15.2% in the 1st quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock worth $83,000 after buying an additional 263 shares in the last quarter. Quantbot Technologies LP increased its holdings in Hyster-Yale by 25.8% in the 1st quarter. Quantbot Technologies LP now owns 4,073 shares of the industrial products company's stock worth $169,000 after buying an additional 835 shares in the last quarter. Finally, Amundi increased its holdings in Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock worth $201,000 after buying an additional 444 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

Hyster-Yale Stock Performance

Shares of Hyster-Yale stock traded down $1.11 during trading hours on Friday, reaching $35.86. 58,776 shares of the stock traded hands, compared to its average volume of 74,320. The company has a 50 day moving average price of $39.35 and a 200 day moving average price of $40.48. The firm has a market capitalization of $635.44 million, a price-to-earnings ratio of 28.92 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 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 (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 analysts' consensus estimates of $0.26 by ($0.40). The firm had revenue of $956.60 million for 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%. On average, equities research analysts expect that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The business also recently disclosed 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 29th. Hyster-Yale's payout ratio is presently 116.13%.

Analysts Set New Price Targets

Separately, Zacks Research upgraded 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 given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $70.00.

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.