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SCHEDULE 13D/A 0000807249-21-000137 0000807249 XXXXXXXX LIVE 5 Class A Common Stock, $0.01 par value per share 11/04/2025 false 0001173514 449172105 HYSTER-YALE, INC. 5875 LANDERBROOK DRIVE 5875 LANDERBROOK DRIVE CLEVELAND OH 44124 DAVID GOLDMAN 914-921-5000 191 MASON STREET GREENWICH CT 06830 0000807249 N GAMCO INVESTORS, INC. ET AL WC N NY 0.00 0.00 0.00 0.00 0.00 Y 0.0 CO HC 0001081407 N GABELLI FUNDS LLC OO N NY 51900.00 0.00 51900.00 0.00 51900.00 N 0.4 CO IA 0001460612 N GAMCO Asset Management Inc. OO N NY 792287.00 0.00 819887.00 0.00 819887.00 N 5.7 CO IA Y GABELLI FOUNDATION, INC. WC N NV 7400.00 0.00 7400.00 0.00 7400.00 N 0.1 OO Y MJG ASSOCIATES, INC. OO N CT 1200.00 0.00 1200.00 0.00 1200.00 N 0.0 CO 0001444874 N Teton Advisors, Inc. OO N DE 400.00 0.00 400.00 0.00 400.00 N 0.0 CO IA 0001238894 N GGCP, INC. WC N WY 1800.00 0.00 1800.00 0.00 1800.00 Y 0.0 CO HC 0001642122 N Associated Capital Group, Inc. WC N DE 0.00 0.00 0.00 0.00 0.00 Y 0.0 CO HC 0001185533 N GABELLI MARIO J PF N X1 300.00 0.00 300.00 0.00 300.00 Y 0.0 IN Class A Common Stock, $0.01 par value per share HYSTER-YALE, INC. 5875 LANDERBROOK DRIVE 5875 LANDERBROOK DRIVE CLEVELAND OH 44124 This statement is being filed by one or more of the following persons: GGCP, Inc. (GGCP), GGCP Holdings LLC (GGCP Holdings), GAMCO Investors, Inc. (GBL), Associated Capital Group, Inc. (AC), Gabelli Funds, LLC (Gabelli Funds), GAMCO Asset Management Inc. (GAMCO), Teton Advisors, LLC (Teton Advisors), Keeley-Teton Advisors, LLC (Keeley-Teton), Gabelli & Company Investment Advisers, Inc. (GCIA), Morgan Group Holding Co., (MGH), G.research, LLC (G.research), MJG Associates, Inc. (MJG Associates), Gabelli Securities International (Bermuda) Limited (GSIL), Gabelli Foundation, Inc. (Foundation), Mario Gabelli, LICT and CIBL. Those of the foregoing persons signing this Schedule 13D are hereinafter referred to as the Reporting Persons. GAMCO is a New York corporation and GBL and MGH are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation and AC and GCIA are Delaware corporations each having its principal business office 191 Mason Street, Greenwich, CT 06830. GGCP Holdings is a Delaware limited liability corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. G.research is a Delaware limited liability company having its principal officers at One Corporate Center, Rye, New York 10580. Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580. Teton Advisors is a Delaware limited liability company having its principal place of business at 189 Mason Street, Greenwich, CT 06830. Keeley-Teton Advisors is a Delaware limited liability company having its principal place of business at 141 W. Jackson Blvd., Chicago, IL 60604. MJG Associates is a Connecticut corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501. LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501. GGCP makes investments for its own account and is the manager and a member of GGCP Holdings which is the controlling shareholder of GBL and AC. GBL, a public company whose stock is quoted on the OTCQX platform, is the parent company for a variety of companies engaged in the securities business, including certain of those named below. AC, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those listed below. GAMCO, a wholly-owned subsidiary of GBL, is an investment adviser registered under the Investment Advisers Act of 1940, as amended (Advisers Act). GAMCO is an investment manager providing discretionary managed account services for employee benefit plans, private investors, endowments, foundations and others. GCIA, a wholly owned subsidiary of AC, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GCIA may purchase or sell securities for its own account. GCIA or its relying advisers, act as a general partner or investment manager of a number of funds or partnerships, including Gabelli Associates Fund, L.P., Gabelli Associates Fund II, L.P., Gabelli Associates Limited, Gabelli Associates Limited II E, Gabelli Intermediate Credit Fund L.P., GAMA Select Plus Master Fund, Ltd., GAMCO Medical Opportunities L.P., and Gabelli Multimedia Partners, L.P. G.research is a wholly owned subsidiary of MGH. G.research, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (1934 Act), which may as a part of its business purchase and sell securities for its own account. Gabelli Funds, a wholly owned subsidiary of GBL, is a limited liability company. Gabelli Funds is an investment adviser registered under the Advisers Act which provides advisory services for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The Gabelli Growth Fund, The Gabelli Convertible and Income Securities Fund Inc., The Gabelli Value 25 Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The Gabelli Global Content & Connectivity Fund, The Gabelli Gold Fund, Inc., The Gabelli Multimedia Trust Inc., The Gabelli Global Rising Income & Dividend Fund, The Gabelli Capital Asset Fund, The Gabelli International Growth Fund, Inc., The Gabelli Global Growth Fund, The Gabelli Utility Trust, The Gabelli Utilities Fund, The Gabelli Dividend Growth Fund, The Gabelli Focused Growth and Income Fund, The Comstock Capital Value Fund, The Gabelli Dividend and Income Trust, The Gabelli Global Utility & Income Trust, The GAMCO Global Gold, Natural Resources, & Income Trust, The GAMCO Natural Resources, Gold & Income Trust, The GDL Fund, Gabelli Enterprise Mergers & Acquisitions Fund, The Gabelli ESG Fund, Inc., The Gabelli International Small Cap Fund, The Gabelli Healthcare & Wellness Rx Trust, The Gabelli Global Small and Mid Cap Value Trust, Gabelli Merger Plus+ Trust Plc, The Gabelli Global Financial Services Fund, The Gabelli Global Mini Mites Fund, The Gabelli Media Mogul Fund, The Gabelli Pet Parents Fund, The Gabelli U.S. Treasury Money Market Fund, Bancroft Fund Ltd. and Ellsworth Growth & Income Fund Ltd., Gabelli Growth Innovators ETF, Gabelli Love Our Planet & People ETF, Gabelli Automation ETF, Gabelli Commercial Aerospace & Defense ETF, Gabelli Financial Services Opportunities ETF (collectively, the Funds), which are registered investment companies. Gabelli Funds is also the investment adviser to The GAMCO International SICAV (sub-funds GAMCO Merger Arbitrage and GAMCO All Cap Value), a UCITS III vehicle. Teton Advisors, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Westwood Mighty Mitessm Fund, The TETON Convertible Securities Fund, The Teton Westwood Balanced Fund, and The TETON Westwood Equity Fund. The TETON Westwood Mighty Mites Fund and the Teton Convertible Securities Fund are subadvised by Gabelli Funds, and their holdings are included in this filing. Keeley-Teton, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The Teton Westwood Smallcap Equity Fund, The Keeley Small Cap Dividend Value Fund, The Keeley Small-Mid Cap Value Fund, and The Keeley Mid Cap Dividend Value Fund, as well as to institutional and individual clients. MJG Associates provides advisory services to private investment partnerships and offshore funds. Mario Gabelli is the sole shareholder, director and employee of MJG Associates. MJG Associates is the Investment Manager of Gabelli International Limited and Gabelli Fund, LDC. Mario J. Gabelli is the general partner of Gabelli Performance Partnership, LP. The Foundation is a private foundation. Mario Gabelli is the Chairman, a Trustee and the Investment Manager of the Foundation. Elisa M. Wilson is the President of the Foundation. LICT is a holding company with operating subsidiaries engaged primarily in the rural telephone industry. LICT actively pursues new business ventures and acquisitions. LICT makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is the Chief Executive Officer, a director, and substantial shareholder of LICT. CIBL is a holding company with interest in telecommunications operations, primarily in the rural telephone industry. CIBL actively pursues new business ventures and acquisitions. CIBL makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of CIBL. Mario Gabelli is the controlling stockholder, co-Chief Executive Officer and a director of GGCP and Chairman and Chief Executive Officer of GBL. He is the Executive Chairman of AC. Mario Gabelli is also a member of GGCP Holdings. Mario Gabelli is the controlling shareholder of MGH and indirectly of Teton Advisors and Keeley-Teton Advisors. Not applicable. Not applicable. United States. The Reporting Persons file the long form Schedule 13D pursuant to Section 13d-1 of the Securities Exchange Act of 1934 (the "Act") even though they may be technically eligible to file the short form Schedule G. Because the Reporting Persons may regularly communicate with the Issuer's management, filing the Schedule 13D ensures that these conversations are compliant with the reporting obligations under the Exchange Act. The aggregate number of Securities to which this Schedule 13D relates is 882,887 shares, representing 6.18% of the 14,283,983 shares outstanding as reported by the Issuer in its most recently filed Form 10-Q for the quarterly period ended September 30, 2025. This Amendment is being filed to reflect a decrease in the Reporting Persons' ownership which is due, in part, to an increase in the Issuer's shares outstanding in its Form 10-Q filed November 4, 2025. The Reporting Persons beneficially own those Securities as follows: GAMCO 819,887 shares 5.74%, Gabelli Funds 51,900 shares 0.36%, Foundation 7,400 shares 0.05%, GGCP 1,800 shares 0.01%, MJG Associates 1,200 shares 0.01%, Mario Gabelli 300 shares 0.00% and Teton Advisors 400 shares 0.00%. Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have authority to vote 27,600 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Funds shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth below: DATE SHARES PURCHASED PRICE /SOLD GABELLI FUNDS, LLC GABELLI SMALL CAP GROWTH FUND 9/9/2025 -3,120 36.3966 GAMCO ASSET MANAGEMENT INC. 11/5/2025 500 34.2500 11/4/2025 -1,500 34.8494 10/31/2025 -1,500 35.7086 10/31/2025 2,000 35.8200 10/31/2025 -23,200 35.9400 10/30/2025 -1,500 36.0065 10/28/2025 -500 36.6500 10/28/2025 3,000 36.9000 10/27/2025 -200 37.3150 10/24/2025 200 37.7100 10/24/2025 -137 37.7200 10/22/2025 2,000 36.5710 10/21/2025 -1,500 36.8100 10/20/2025 400 36.0500 10/20/2025 -1,500 36.1147 10/20/2025 -600 36.2517 10/20/2025 -800 36.4900 10/17/2025 -600 35.4100 10/17/2025 -500 35.5300 10/6/2025 300 36.1000 9/30/2025 -800 36.5688 9/29/2025 200 37.3400 9/24/2025 -6,000 37.0263 9/23/2025 100 37.1700 9/22/2025 -3,250 36.8226 9/22/2025 500 37.1219 9/22/2025 -1,000 37.1700 9/18/2025 -200 37.9700 9/17/2025 1,900 36.7537 9/15/2025 -100 36.0300 9/11/2025 -1,000 36.9700 9/8/2025 1,597 36.9642 9/8/2025 -300 37.5255 9/5/2025 200 37.0000 The investment advisory clients of, or partnerships managed by, GAMCO, Gabelli Funds, Teton Advisors and MJG Associates have the sole right to receive and, subject to the notice, withdrawal and/or termination provisions of such advisory contracts and partnership arrangements, the sole power to direct the receipt of dividends from, and the proceeds of sale of, any of the Securities beneficially owned by such Reporting Persons on behalf of such clients or partnerships. Except as noted, no such client or partnership has an interest by virtue of such relationship that relates to more than 5% of the Securities. Not applicable. GAMCO INVESTORS, INC. ET AL PETER D. GOLDSTEIN GENERAL COUNSEL 11/06/2025 GABELLI FUNDS LLC DAVID GOLDMAN GENERAL COUNSEL 11/06/2025 GAMCO Asset Management Inc. DOUGLAS R. JAMIESON PRESIDENT 11/06/2025 GABELLI FOUNDATION, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 11/06/2025 MJG ASSOCIATES, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 11/06/2025 Teton Advisors, Inc. DAVID GOLDMAN COUNSEL 11/06/2025 GGCP, INC. DAVID GOLDMAN ATTORNEY-IN-FACT 11/06/2025 Associated Capital Group, Inc. PETER D. GOLDSTEIN CHIEF LEGAL OFFICER 11/06/2025 GABELLI MARIO J DAVID GOLDMAN ATTORNEY-IN-FACT 11/06/2025