California Public Employees Retirement System decreased its holdings in shares of Hillenbrand, Inc. (NYSE:HI) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,176 shares of the company’s stock after selling 9,808 shares during the quarter. California Public Employees Retirement System owned 0.23% of Hillenbrand worth $6,704,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of HI. BlackRock Inc. grew its holdings in shares of Hillenbrand by 8.4% during the second quarter. BlackRock Inc. now owns 9,414,734 shares of the company’s stock worth $443,905,000 after purchasing an additional 729,389 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Hillenbrand by 812.5% in the first quarter. Russell Investments Group Ltd. now owns 170,430 shares of the company’s stock worth $7,823,000 after buying an additional 151,752 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in Hillenbrand in the first quarter worth approximately $4,188,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Hillenbrand by 279.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 100,200 shares of the company’s stock worth $4,724,000 after buying an additional 73,800 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Hillenbrand by 223.2% in the second quarter. Voya Investment Management LLC now owns 88,911 shares of the company’s stock worth $4,192,000 after buying an additional 61,404 shares in the last quarter. 76.04% of the stock is owned by institutional investors.
Several analysts have issued reports on HI shares. Zacks Investment Research raised Hillenbrand from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, August 3rd. B. Riley set a $62.00 target price on Hillenbrand and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Sidoti lowered Hillenbrand from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. Finally, TheStreet raised Hillenbrand from a “c+” rating to an “a-” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Hillenbrand presently has a consensus rating of “Buy” and a consensus target price of $59.00.
Shares of HI opened at $49.68 on Friday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.55 and a beta of 1.25. The company has a quick ratio of 0.89, a current ratio of 1.22 and a debt-to-equity ratio of 0.60. Hillenbrand, Inc. has a 1 year low of $38.15 and a 1 year high of $53.41.
Hillenbrand (NYSE:HI) last issued its earnings results on Wednesday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $446.00 million during the quarter, compared to analyst estimates of $403.80 million. Hillenbrand had a return on equity of 20.46% and a net margin of 4.04%. Hillenbrand’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Hillenbrand, Inc. will post 2.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a $0.2075 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.83 annualized dividend and a yield of 1.67%. This is a positive change from Hillenbrand’s previous quarterly dividend of $0.21. Hillenbrand’s dividend payout ratio is currently 39.34%.
Hillenbrand Company Profile
Hillenbrand, Inc operates as a diversified industrial company worldwide. 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, and forest products.
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