This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nacco Industries Completes Hyster-Yale Spinoff

CLEVELAND (AP) â¿¿ Nacco Industries has completed the spinoff of its materials handling business.

The company said Friday that after the market closes, each of its shareholders will receive a dividend of one Hyster-Yale Materials Handling Inc. class A share, and one class B share, for each Nacco "A'' and "B'' share they hold.

Hyster-Yale's class A shares will start trading on the New York Stock Exchange on Monday under the "HY" ticker symbol.

Hyster-Yale makes, sells and services lift trucks and aftermarket parts, mostly under the Hyster and Yale brands. Nacco Industries Inc. is a holding company with subsidiaries in industries such as mining, small appliances and specialty retail. Its consumer brands include Hamilton Beach, the Kitchen Collection and Le Gourmet Chef.

Both companies are based in Cleveland.

Shares of Nacco Industries added $3.88, or 3.3 percent, to $122.86 in afternoon trading.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs