Millennium Management LLC lessened its position in shares of Hillenbrand, Inc. (NYSE:HI) by 33.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 450,310 shares of the company’s stock after selling 222,122 shares during the quarter. Millennium Management LLC owned approximately 0.72% of Hillenbrand worth $13,905,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Hillenbrand during the 2nd quarter worth approximately $35,000. Quadrant Capital Group LLC raised its position in Hillenbrand by 753.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,220 shares of the company’s stock valued at $36,000 after purchasing an additional 1,077 shares during the last quarter. FTB Advisors Inc. purchased a new stake in Hillenbrand in the 2nd quarter valued at $69,000. Meeder Asset Management Inc. raised its position in Hillenbrand by 22.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,376 shares of the company’s stock valued at $104,000 after purchasing an additional 620 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Hillenbrand in the 3rd quarter valued at $114,000. Institutional investors own 83.66% of the company’s stock.
Several analysts recently commented on HI shares. ValuEngine upgraded shares of Hillenbrand from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Sidoti reduced their price target on shares of Hillenbrand from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Zacks Investment Research downgraded shares of Hillenbrand from a “buy” rating to a “hold” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hillenbrand currently has an average rating of “Buy” and a consensus target price of $46.00.
In related news, VP Glennis A. Williams sold 1,993 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $33.25, for a total value of $66,267.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher H. Trainor acquired 3,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $31.47 per share, for a total transaction of $110,145.00. Following the completion of the purchase, the vice president now owns 28,690 shares in the company, valued at approximately $902,874.30. The disclosure for this purchase can be found here. 3.41% of the stock is currently owned by corporate insiders.
Hillenbrand stock traded up $0.05 during trading hours on Friday, reaching $33.29. 347,054 shares of the stock were exchanged, compared to its average volume of 628,972. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.44 and a current ratio of 1.74. Hillenbrand, Inc. has a 52-week low of $26.01 and a 52-week high of $46.00. The stock has a market cap of $2.09 billion, a P/E ratio of 13.59 and a beta of 1.27. The firm’s 50 day moving average is $32.43 and its 200 day moving average is $32.40.
Hillenbrand (NYSE:HI) last posted its quarterly earnings results on Wednesday, November 13th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. Hillenbrand had a net margin of 6.72% and a return on equity of 20.10%. The business had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $475.88 million. During the same period in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that Hillenbrand, Inc. will post 2.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.55%. This is a boost from Hillenbrand’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, December 16th. Hillenbrand’s dividend payout ratio is presently 34.69%.
Hillenbrand Company Profile
Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. The company operates in two segments, Process Equipment Group and Batesville. The Process Equipment Group segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals and mining, energy, wastewater treatment, forest products, and other general industrials.
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