Goldman Sachs Group Inc. decreased its stake in shares of Hyster-Yale Materials Handling Inc (NYSE:HY) by 22.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,194 shares of the industrial products company’s stock after selling 7,669 shares during the period. Goldman Sachs Group Inc. owned about 0.17% of Hyster-Yale Materials Handling worth $1,533,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Hyster-Yale Materials Handling during the fourth quarter worth $9,101,000. Mutual of America Capital Management LLC acquired a new stake in shares of Hyster-Yale Materials Handling during the first quarter worth $3,018,000. Dimensional Fund Advisors LP boosted its stake in shares of Hyster-Yale Materials Handling by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 908,970 shares of the industrial products company’s stock worth $51,256,000 after buying an additional 37,588 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 5.6% in the first quarter. Vanguard Group Inc. now owns 634,959 shares of the industrial products company’s stock worth $35,805,000 after buying an additional 33,777 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Hyster-Yale Materials Handling by 14.1% in the first quarter. Royce & Associates LP now owns 260,338 shares of the industrial products company’s stock worth $14,680,000 after buying an additional 32,240 shares during the period. Institutional investors own 67.80% of the company’s stock.
Shares of Hyster-Yale Materials Handling Inc (NYSE HY) traded up 8.40% during midday trading on Tuesday, reaching $69.91. 41,494 shares of the company’s stock were exchanged. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 19.53 and a beta of 1.05. Hyster-Yale Materials Handling Inc has a 12-month low of $47.25 and a 12-month high of $76.50. The stock’s 50 day moving average price is $71.81 and its 200 day moving average price is $65.51.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub cut shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Sidoti cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a report on Wednesday, June 7th. TheStreet upgraded shares of Hyster-Yale Materials Handling from a “c+” rating to a “b-” rating in a report on Friday, May 12th. Finally, Seaport Global Securities upgraded shares of Hyster-Yale Materials Handling from a “sell” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Thursday, April 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $74.75.
In other news, insider Cory Freyer sold 3,128 shares of Hyster-Yale Materials Handling stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $74.81, for a total value of $234,005.68. Following the transaction, the insider now owns 8,000 shares of the company’s stock, valued at approximately $598,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frank F. Taplin sold 1,400 shares of Hyster-Yale Materials Handling stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $73.93, for a total transaction of $103,502.00. The disclosure for this sale can be found here. 26.34% of the stock is owned by insiders.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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