Gallacher Capital Management LLC Takes Position in Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Gallacher Capital Management LLC purchased a new position in shares of Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,302 shares of the industrial products company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Hyster-Yale Materials Handling by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 945,578 shares of the industrial products company’s stock valued at $42,154,000 after acquiring an additional 12,747 shares during the period. FMR LLC grew its position in shares of Hyster-Yale Materials Handling by 60.6% in the third quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock valued at $26,262,000 after purchasing an additional 222,340 shares during the period. Valueworks LLC increased its stake in shares of Hyster-Yale Materials Handling by 74.9% during the third quarter. Valueworks LLC now owns 210,980 shares of the industrial products company’s stock worth $9,405,000 after purchasing an additional 90,355 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Hyster-Yale Materials Handling by 38.8% during the 4th quarter. Federated Hermes Inc. now owns 131,538 shares of the industrial products company’s stock worth $8,180,000 after purchasing an additional 36,758 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Hyster-Yale Materials Handling by 86.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 124,733 shares of the industrial products company’s stock valued at $7,757,000 after buying an additional 57,758 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Price Performance

Shares of NYSE:HY traded up $0.30 during midday trading on Monday, hitting $59.10. The company had a trading volume of 48,107 shares, compared to its average volume of 99,206. The business’s 50-day simple moving average is $60.77 and its 200-day simple moving average is $58.11. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 8.11 and a beta of 1.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.22 and a quick ratio of 0.55. Hyster-Yale Materials Handling, Inc. has a twelve month low of $38.50 and a twelve month high of $72.40.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Hyster-Yale Materials Handling had a net margin of 3.06% and a return on equity of 40.35%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts predict that Hyster-Yale Materials Handling, Inc. will post 7.06 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.325 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.30 dividend on an annualized basis and a yield of 2.20%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 17.93%.

Insider Activity at Hyster-Yale Materials Handling

In related news, insider Frank F. Taplin sold 5,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.65, for a total transaction of $293,250.00. Following the completion of the transaction, the insider now owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Frank F. Taplin sold 5,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.65, for a total transaction of $293,250.00. Following the transaction, the insider now owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank F. Taplin sold 11,720 shares of Hyster-Yale Materials Handling stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.10, for a total value of $680,932.00. Following the completion of the transaction, the insider now directly owns 367,152 shares of the company’s stock, valued at $21,331,531.20. The disclosure for this sale can be found here. 33.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HY shares. StockNews.com downgraded Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. TheStreet lowered shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a report on Monday, March 4th.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, 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.