Hyster-Yale, Inc. $HY Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Hyster-Yale, Inc. (NYSE:HY) by 23.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 45,284 shares of the industrial products company’s stock after selling 14,149 shares during the period. PNC Financial Services Group Inc.’s holdings in Hyster-Yale were worth $1,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Hyster-Yale by 15.2% during the first 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 during the period. Quantbot Technologies LP grew its position in shares of Hyster-Yale by 25.8% during the first quarter. Quantbot Technologies LP now owns 4,073 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 835 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Hyster-Yale by 1,641.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,319 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 4,071 shares during the period. Amundi raised its position in Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares during the last quarter. Finally, Inspire Investing LLC raised its position in Hyster-Yale by 4.5% in the 1st quarter. Inspire Investing LLC now owns 8,232 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on HY shares. Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Roth Capital set a $40.00 price target on Hyster-Yale in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyster-Yale in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Hyster-Yale has a consensus rating of “Hold” and a consensus price target of $40.00.

Hyster-Yale Stock Down 0.7%

Shares of NYSE:HY opened at $27.38 on Thursday. The company has a market cap of $485.47 million, a price-to-earnings ratio of 22.08 and a beta of 1.57. Hyster-Yale, Inc. has a fifty-two week low of $27.25 and a fifty-two week high of $58.72. The firm’s 50-day simple moving average is $35.05 and its 200-day simple moving average is $38.33. 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) last announced its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The business had revenue of $979.10 million during the quarter, compared to analysts’ expectations of $955.69 million. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Monday, December 1st. Hyster-Yale’s dividend payout ratio is currently 1,028.57%.

Hyster-Yale Company 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.