The Manufacturers Life Insurance Company Purchases 1,366 Shares of Hillenbrand, Inc. (NYSE:HI)

The Manufacturers Life Insurance Company grew its stake in Hillenbrand, Inc. (NYSE:HI) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,639 shares of the company’s stock after purchasing an additional 1,366 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Hillenbrand worth $1,506,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HI. UniSuper Management Pty Ltd acquired a new position in shares of Hillenbrand in the first quarter valued at about $755,000. Vanguard Group Inc. grew its stake in Hillenbrand by 3.5% during the first quarter. Vanguard Group Inc. now owns 8,702,418 shares of the company’s stock worth $437,645,000 after buying an additional 290,275 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Hillenbrand during the first quarter worth about $3,285,000. Raymond James & Associates grew its stake in Hillenbrand by 4.3% during the second quarter. Raymond James & Associates now owns 392,196 shares of the company’s stock worth $15,696,000 after buying an additional 16,323 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Hillenbrand during the first quarter worth about $281,000. 89.09% of the stock is owned by institutional investors.

Hillenbrand Trading Down 2.8 %

Shares of HI opened at $25.66 on Friday. The business’s 50-day moving average price is $30.57 and its 200-day moving average price is $39.66. Hillenbrand, Inc. has a twelve month low of $25.11 and a twelve month high of $50.58. The stock has a market cap of $1.80 billion, a PE ratio of 21.21 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.44.

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

Hillenbrand Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.2225 dividend. This is an increase from Hillenbrand’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, September 16th. This represents a $0.89 dividend on an annualized basis and a yield of 3.47%. Hillenbrand’s dividend payout ratio is 73.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Hillenbrand from a “sell” rating to a “hold” rating in a report on Friday, September 6th. KeyCorp assumed coverage on shares of Hillenbrand in a research report on Wednesday, July 10th. They set an “overweight” rating and a $50.00 price objective for the company. Finally, DA Davidson downgraded shares of Hillenbrand from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $54.00 to $33.00 in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Hillenbrand presently has an average rating of “Moderate Buy” and an average target price of $48.00.

Hillenbrand 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.