Hillenbrand, Inc. (NYSE:HI) Stock Position Raised by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Hillenbrand, Inc. (NYSE:HI) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,639 shares of the company’s stock after purchasing an additional 368 shares during the period. Arizona State Retirement System’s holdings in Hillenbrand were worth $786,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of HI. Norges Bank acquired a new position in Hillenbrand in the 4th quarter worth approximately $40,130,000. Vanguard Group Inc. increased its stake in Hillenbrand by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 8,702,418 shares of the company’s stock valued at $437,645,000 after buying an additional 290,275 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Hillenbrand by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,747,176 shares of the company’s stock valued at $83,605,000 after buying an additional 120,782 shares during the period. Roubaix Capital LLC acquired a new stake in shares of Hillenbrand during the 1st quarter valued at $3,664,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Hillenbrand during the 1st quarter valued at $3,285,000. 89.09% of the stock is owned by hedge funds and other institutional investors.

Hillenbrand Price Performance

Shares of NYSE:HI opened at $27.30 on Friday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 22.56 and a beta of 1.39. The business has a 50-day moving average of $36.55 and a two-hundred day moving average of $42.40. Hillenbrand, Inc. has a fifty-two week low of $25.49 and a fifty-two week 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 data on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $786.60 million for the quarter, compared to the consensus estimate of $818.16 million. Hillenbrand had a positive return on equity of 14.89% and a negative net margin of 6.67%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts predict that Hillenbrand, Inc. will post 3.23 EPS for the current fiscal year.

Hillenbrand Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.2225 dividend. The ex-dividend date of this dividend is Monday, September 16th. 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 3.26%. Hillenbrand’s dividend payout ratio (DPR) is presently 73.55%.

Wall Street Analyst Weigh In

HI has been the subject of a number of research reports. DA Davidson cut Hillenbrand from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $33.00 in a research report on Monday, August 12th. StockNews.com raised Hillenbrand from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Finally, KeyCorp began coverage on shares of Hillenbrand in a research report on Wednesday, July 10th. They set an “overweight” rating and a $50.00 price objective on the stock. Two 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 company’s stock. According to data from MarketBeat, Hillenbrand presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Hillenbrand Company Profile

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.