First Trust Advisors LP lessened its holdings in Hillenbrand, Inc. (NYSE:HI) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,279 shares of the company’s stock after selling 14,052 shares during the quarter. First Trust Advisors LP’s holdings in Hillenbrand were worth $1,381,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Dupont Capital Management Corp bought a new stake in shares of Hillenbrand in the 2nd quarter worth about $621,000. Principal Financial Group Inc. grew its holdings in shares of Hillenbrand by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 822,993 shares of the company’s stock worth $37,775,000 after purchasing an additional 9,838 shares during the last quarter. Sawgrass Asset Management LLC grew its holdings in shares of Hillenbrand by 31.7% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,010 shares of the company’s stock worth $472,000 after purchasing an additional 2,410 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Hillenbrand by 4.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 29,860 shares of the company’s stock worth $1,370,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Hillenbrand by 3.4% in the 1st quarter. Swiss National Bank now owns 109,700 shares of the company’s stock worth $5,035,000 after purchasing an additional 3,600 shares during the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.
HI has been the topic of several analyst reports. TheStreet raised shares of Hillenbrand from a “c+” rating to an “a-” rating in a report on Thursday, August 2nd. B. Riley set a $62.00 target price on shares of Hillenbrand and gave the stock a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered shares of Hillenbrand from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, 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 report on Wednesday, August 22nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $59.00.
Hillenbrand (NYSE:HI) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $403.80 million. Hillenbrand had a net margin of 4.04% and a return on equity of 20.46%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. sell-side analysts forecast that Hillenbrand, Inc. will post 2.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.2075 per share. This is an increase from Hillenbrand’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.83 annualized dividend and a yield of 1.58%. Hillenbrand’s dividend payout ratio is 39.34%.
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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