Impala Asset Management LLC Invests $1.49 Million in Hyster-Yale, Inc. $HY

Impala Asset Management LLC purchased a new position in shares of Hyster-Yale, Inc. (NYSE:HY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the industrial products company’s stock, valued at approximately $1,486,000. Hyster-Yale comprises about 0.9% of Impala Asset Management LLC’s portfolio, making the stock its 18th largest position. Impala Asset Management LLC owned approximately 0.28% of Hyster-Yale at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HY. Millennium Management LLC grew its stake in shares of Hyster-Yale by 113.5% during the third quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company’s stock worth $8,141,000 after acquiring an additional 117,415 shares during the last quarter. Valueworks LLC grew its stake in shares of Hyster-Yale by 33.2% during the fourth quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock worth $11,865,000 after acquiring an additional 99,538 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hyster-Yale by 58.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 120,803 shares of the industrial products company’s stock worth $3,589,000 after acquiring an additional 44,750 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Hyster-Yale by 43.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 144,485 shares of the industrial products company’s stock worth $4,293,000 after acquiring an additional 43,822 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock worth $3,306,000 after acquiring an additional 41,795 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HY shares. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, March 2nd. Zacks Research upgraded Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings lowered Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Hyster-Yale from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

Hyster-Yale Trading Up 5.8%

Shares of NYSE:HY opened at $37.40 on Friday. Hyster-Yale, Inc. has a 12-month low of $26.41 and a 12-month high of $44.55. The company has a market capitalization of $670.14 million, a PE ratio of -6.69 and a beta of 1.61. The business has a 50 day moving average of $36.05 and a two-hundred day moving average of $34.33. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 0.58.

Hyster-Yale (NYSE:HY) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The company had revenue of $795.20 million during the quarter, compared to the consensus estimate of $878.10 million. As a group, analysts forecast that Hyster-Yale, Inc. will post -2.75 EPS for the current year.

Hyster-Yale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st will be issued a $0.365 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a yield of 3.9%. Hyster-Yale’s dividend payout ratio is presently -26.12%.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.