Vanguard Group Inc. Reduces Stake in Hyster-Yale, Inc. $HY

Key Points

• Vanguard Group Inc. reduced its stake in Hyster-Yale, Inc. by 1.4%, owning approximately 6.20% of the company worth $45.6 million after selling 15,352 shares in the 1st quarter.
• Hyster-Yale reported a loss of $0.14 earnings per share for the previous quarter, significantly missing the consensus estimate of $0.26, though its revenue surpassed expectations at $956.6 million.
• The company announced a quarterly dividend of $0.36 per share, reflecting a yield of 3.7% and a payout ratio of 116.13%.

Vanguard Group Inc. reduced its position in Hyster-Yale, Inc. (NYSE:HY - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097,137 shares of the industrial products company's stock after selling 15,352 shares during the period. Vanguard Group Inc. owned about 6.20% of Hyster-Yale worth $45,575,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hyster-Yale during the 4th quarter valued at $27,000. Mattson Financial Services LLC acquired a new position in Hyster-Yale in the fourth quarter valued at $36,000. US Bancorp DE boosted its holdings in Hyster-Yale by 15.2% in the first quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock valued at $83,000 after acquiring an additional 263 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Hyster-Yale by 164.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,468 shares of the industrial products company's stock valued at $125,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Hyster-Yale by 17.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,018 shares of the industrial products company's stock valued at $154,000 after purchasing an additional 448 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Price Performance

NYSE HY opened at $39.2720 on Tuesday. The stock has a market capitalization of $695.94 million, a P/E ratio of 31.67 and a beta of 1.53. Hyster-Yale, Inc. has a 1 year low of $34.13 and a 1 year high of $69.28. The business's fifty day moving average is $40.14 and its two-hundred day moving average is $41.98. 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 posted 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 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%. On average, research analysts forecast that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 3.7%. The ex-dividend date of this dividend is Friday, August 29th. Hyster-Yale's payout ratio is 116.13%.

Analyst Upgrades and Downgrades

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.