State of Tennessee Treasury Department Sells 4,716 Shares of Hillenbrand, Inc. (HI)
State of Tennessee Treasury Department lessened its holdings in Hillenbrand, Inc. (NYSE:HI) by 7.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,002 shares of the company’s stock after selling 4,716 shares during the period. State of Tennessee Treasury Department owned about 0.10% of Hillenbrand worth $2,846,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Hillenbrand by 4.6% in the 1st quarter. BlackRock Inc. now owns 8,685,345 shares of the company’s stock worth $398,657,000 after purchasing an additional 381,777 shares during the period. Channing Capital Management LLC lifted its stake in shares of Hillenbrand by 17.0% in the 4th quarter. Channing Capital Management LLC now owns 1,701,045 shares of the company’s stock worth $76,037,000 after purchasing an additional 246,866 shares during the period. Dimensional Fund Advisors LP raised its stake in Hillenbrand by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,683,284 shares of the company’s stock worth $77,263,000 after acquiring an additional 7,799 shares during the period. Millennium Management LLC raised its stake in Hillenbrand by 33.1% during the 4th quarter. Millennium Management LLC now owns 897,718 shares of the company’s stock worth $40,128,000 after acquiring an additional 223,391 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Hillenbrand by 175,287.5% during the 4th quarter. Glenmede Trust Co. NA now owns 701,550 shares of the company’s stock worth $31,358,000 after acquiring an additional 701,150 shares during the period. Hedge funds and other institutional investors own 77.18% of the company’s stock.
A number of equities research analysts have commented on HI shares. Zacks Investment Research upgraded shares of Hillenbrand from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, February 15th. ValuEngine upgraded shares of Hillenbrand from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Finally, TheStreet cut shares of Hillenbrand from an “a-” rating to a “c+” rating in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $52.00.
Hillenbrand (NYSE:HI) last released its earnings results on Wednesday, May 2nd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Hillenbrand had a net margin of 3.99% and a return on equity of 20.08%. The company had revenue of $452.20 million for the quarter, compared to analysts’ expectations of $434.70 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. analysts expect that Hillenbrand, Inc. will post 2.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.207 per share. This represents a $0.83 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 14th. Hillenbrand’s 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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