BlackRock Inc. lifted its position in shares of Hillenbrand, Inc. (NYSE:HI) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,764,737 shares of the company’s stock after acquiring an additional 350,003 shares during the quarter. BlackRock Inc. owned 15.67% of Hillenbrand worth $510,695,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. grew its position in Hillenbrand by 23.3% during the second quarter. Macquarie Group Ltd. now owns 5,300 shares of the company’s stock worth $250,000 after buying an additional 1,000 shares during the period. Stevens Capital Management LP grew its position in Hillenbrand by 5.0% during the second quarter. Stevens Capital Management LP now owns 22,057 shares of the company’s stock worth $1,040,000 after buying an additional 1,042 shares during the period. Harvest Fund Management Co. Ltd grew its position in Hillenbrand by 44.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,552 shares of the company’s stock worth $186,000 after buying an additional 1,089 shares during the period. Bessemer Group Inc. grew its position in Hillenbrand by 2.7% during the third quarter. Bessemer Group Inc. now owns 42,615 shares of the company’s stock worth $2,229,000 after buying an additional 1,115 shares during the period. Finally, Ramsey Quantitative Systems grew its position in Hillenbrand by 17.4% during the third quarter. Ramsey Quantitative Systems now owns 7,862 shares of the company’s stock worth $411,000 after buying an additional 1,166 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.
Separately, Sidoti lowered shares of Hillenbrand from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Wednesday, August 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $59.00.
Shares of NYSE HI opened at $40.78 on Friday. Hillenbrand, Inc. has a 12-month low of $40.23 and a 12-month high of $53.41. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 16.78 and a beta of 1.26. The company has a current ratio of 1.15, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.
Hillenbrand (NYSE:HI) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Hillenbrand had a net margin of 4.33% and a return on equity of 21.01%. The company had revenue of $474.70 million for the quarter, compared to the consensus estimate of $449.90 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Hillenbrand, Inc. will post 2.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 14th. This is an increase from Hillenbrand’s previous quarterly dividend of $0.21. Hillenbrand’s dividend payout ratio is 34.16%.
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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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