Allspring Global Investments Holdings LLC Sells 100,214 Shares of Hillenbrand, Inc. (NYSE:HI)

Allspring Global Investments Holdings LLC lowered its position in shares of Hillenbrand, Inc. (NYSE:HI) by 95.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,801 shares of the company’s stock after selling 100,214 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hillenbrand were worth $192,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Hillenbrand by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 868,965 shares of the company’s stock worth $41,580,000 after purchasing an additional 39,697 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Hillenbrand by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,747,176 shares of the company’s stock worth $83,605,000 after purchasing an additional 120,782 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Hillenbrand in the fourth quarter worth approximately $203,000. Janney Montgomery Scott LLC boosted its holdings in Hillenbrand by 29.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,514 shares of the company’s stock worth $647,000 after purchasing an additional 3,098 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Hillenbrand in the fourth quarter worth approximately $1,723,000. Institutional investors own 89.09% of the company’s stock.

Hillenbrand Trading Down 4.0 %

Shares of Hillenbrand stock opened at $28.94 on Friday. The company’s fifty day simple moving average is $37.73 and its 200-day simple moving average is $43.12. The stock has a market capitalization of $2.03 billion, a PE ratio of 23.92 and a beta of 1.44. Hillenbrand, Inc. has a 1-year low of $28.91 and a 1-year high of $50.58. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.35 and a quick ratio of 0.88.

Hillenbrand (NYSE:HI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $786.60 million for the quarter, compared to analysts’ expectations of $818.16 million. Hillenbrand had a negative net margin of 6.67% and a positive return on equity of 14.89%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. As a group, equities analysts anticipate that Hillenbrand, Inc. will post 3.23 earnings per share for the current year.

Hillenbrand Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.2225 per share. This is a positive change from Hillenbrand’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, September 16th. Hillenbrand’s dividend payout ratio (DPR) is 73.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Hillenbrand from a “sell” rating to a “hold” rating in a report on Friday. KeyCorp initiated coverage on shares of Hillenbrand in a research note on Wednesday, July 10th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, DA Davidson cut shares of Hillenbrand from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $33.00 in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

About Hillenbrand

Hillenbrand, Inc operates as an industrial company in the United States and internationally. The company operates through two segments, Advanced Process Solutions and Molding Technology Solutions. The Advanced Process Solutions segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems comprising compounding, extrusion, and material handling equipment, equipment system design services, as well as offers mixing technology, ingredient automation, and portion process; and provides screening and separating equipment for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals, energy, wastewater treatment, forest products, and other general industrials.