Pinebridge Investments L.P. lifted its holdings in Hillenbrand, Inc. (NYSE:HI) by 3.5% during the second quarter, HoldingsChannel.com reports. The firm owned 44,058 shares of the company’s stock after purchasing an additional 1,498 shares during the period. Pinebridge Investments L.P.’s holdings in Hillenbrand were worth $1,744,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in HI. Zions Bancorporation N.A. bought a new stake in Hillenbrand during the first quarter worth $41,000. FTB Advisors Inc. bought a new position in Hillenbrand in the 2nd quarter valued at approximately $69,000. NumerixS Investment Technologies Inc raised its holdings in Hillenbrand by 2,500.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the company’s stock valued at $108,000 after buying an additional 2,500 shares during the last quarter. Advisor Group Inc. raised its holdings in Hillenbrand by 20.6% in the 2nd quarter. Advisor Group Inc. now owns 3,818 shares of the company’s stock valued at $152,000 after buying an additional 651 shares during the last quarter. Finally, Quantamental Technologies LLC raised its holdings in Hillenbrand by 33.0% in the 2nd quarter. Quantamental Technologies LLC now owns 4,397 shares of the company’s stock valued at $174,000 after buying an additional 1,091 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
HI has been the subject of a number of research reports. Zacks Investment Research lowered shares of Hillenbrand from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. ValuEngine lowered shares of Hillenbrand from a “hold” rating to a “sell” rating in a report on Friday, July 12th. TheStreet lowered shares of Hillenbrand from a “b-” rating to a “c+” rating in a report on Friday, August 9th. Finally, DA Davidson upgraded shares of Hillenbrand from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $48.00.
Hillenbrand (NYSE:HI) last announced its earnings results on Wednesday, July 31st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $446.60 million for the quarter, compared to the consensus estimate of $456.63 million. Hillenbrand had a net margin of 7.86% and a return on equity of 19.57%. Hillenbrand’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. Analysts predict that Hillenbrand, Inc. will post 2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.65%. Hillenbrand’s dividend payout ratio is presently 34.57%.
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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