5 High Dividend Stocks Picked By Billionaire Gabelli

3. Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Dividend Yield as of November 21: 4.15%
GAMCO Investors’ Stake Value: $22,867,000

Hyster-Yale Materials Handling, Inc. (NYSE:HY) is an Ohio-based company that designs and manufactures utility and standard life trucks and other specialized materials. On November 15, the company declared a quarterly dividend of $0.3225 per share, in line with its previous dividend. The company has been raising its dividends consistently for the past eight years. The stock’s dividend yield on November 21 came in at 4.15%.

In October, Sidoti upgraded Hyster-Yale Materials Handling, Inc. (NYSE:HY) to Buy with a $36 price target.

GAMCO Investors opened its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the third quarter of 2019, with shares worth $224,000. During Q3 2022, the hedge fund increased its position in the company by 6% and now owns stakes worth over $22.8 million. The company constituted 0.26% of billionaire Gabelli’s portfolio.

As of the close of Q3 2022, 8 hedge funds tracked by Insider Monkey owned investments in Hyster-Yale Materials Handling, Inc. (NYSE:HY), compared with 9 in the previous quarter. The collective value of these stakes is roughly $37.5 million.

Diamond Hill Capital mentioned Hyster-Yale Materials Handling, Inc. (NYSE:HY) in its Q4 2021 investor letter. Here is what the firm has to say:

“Lift truck manufacturer Hyster-Yale’s pandemic-related operational malaise has been exacerbated by supply chain disruptions. Additionally, the management’s turnaround strategy has experienced delays. With little visibility into when the company may move past these issues and how long it may take for a strategic turnaround to gain traction, we decided to exit the holding to upgrade capital into higher conviction names.”