QRG Capital Management Inc. Sells 466 Shares of Hillenbrand, Inc. (NYSE:HI)

QRG Capital Management Inc. lowered its holdings in Hillenbrand, Inc. (NYSE:HI) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,878 shares of the company’s stock after selling 466 shares during the period. QRG Capital Management Inc.’s holdings in Hillenbrand were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HI. Matrix Trust Co acquired a new position in shares of Hillenbrand during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC grew its stake in shares of Hillenbrand by 58.2% in the second quarter. GAMMA Investing LLC now owns 712 shares of the company’s stock valued at $28,000 after buying an additional 262 shares in the last quarter. nVerses Capital LLC acquired a new position in Hillenbrand during the third quarter worth $75,000. Summit Securities Group LLC bought a new stake in Hillenbrand during the second quarter worth $90,000. Finally, Innealta Capital LLC acquired a new stake in Hillenbrand in the second quarter valued at $93,000. 89.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on HI. StockNews.com upgraded shares of Hillenbrand from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. DA Davidson downgraded Hillenbrand from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $54.00 to $33.00 in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Hillenbrand currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Hillenbrand Stock Performance

NYSE HI opened at $30.70 on Wednesday. Hillenbrand, Inc. has a 52-week low of $25.11 and a 52-week high of $50.58. The stock has a market cap of $2.16 billion, a PE ratio of -10.44 and a beta of 1.38. The firm has a 50-day moving average of $27.89 and a 200-day moving average of $36.43. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.88 and a current ratio of 1.35.

Hillenbrand Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hillenbrand’s previous quarterly dividend of $0.22. Hillenbrand’s payout ratio is currently -30.27%.

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.