Hillman Solutions (NASDAQ:HLMN) Shares Gap Down After Earnings Miss

Hillman Solutions Corp (NASDAQ:HLMN) shares gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $10.36, but opened at $9.61. Hillman Solutions shares last traded at $9.59, with a volume of 207,537 shares trading hands.

The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Hillman Solutions had a net margin of 0.57% and a return on equity of 8.81%. During the same period in the prior year, the business posted $0.10 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on HLMN. Robert W. Baird increased their price objective on shares of Hillman Solutions from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. William Blair downgraded shares of Hillman Solutions from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Barclays lowered their price objective on Hillman Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Finally, Benchmark boosted their price target on Hillman Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Hillman Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Buying and Selling at Hillman Solutions

In related news, Director Philip Woodlief sold 19,779 shares of Hillman Solutions stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.18, for a total value of $221,129.22. Following the completion of the sale, the director now owns 55,811 shares of the company’s stock, valued at $623,966.98. The trade was a 26.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB bought a new position in shares of Hillman Solutions in the 4th quarter worth approximately $4,631,000. WCM Investment Management LLC increased its holdings in Hillman Solutions by 1.5% during the third quarter. WCM Investment Management LLC now owns 3,275,837 shares of the company’s stock valued at $34,724,000 after buying an additional 49,306 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Hillman Solutions by 131.2% in the third quarter. Harbor Capital Advisors Inc. now owns 1,611,051 shares of the company’s stock worth $17,013,000 after acquiring an additional 914,151 shares during the period. Atria Investments Inc boosted its stake in shares of Hillman Solutions by 24.5% during the 3rd quarter. Atria Investments Inc now owns 75,656 shares of the company’s stock worth $799,000 after acquiring an additional 14,904 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of Hillman Solutions by 20.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,653 shares of the company’s stock valued at $357,000 after acquiring an additional 5,273 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Hillman Solutions Price Performance

The firm has a 50 day moving average price of $10.05 and a 200 day moving average price of $10.25. The stock has a market capitalization of $1.99 billion, a PE ratio of 253.56 and a beta of 1.68. The company has a current ratio of 2.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62.

About Hillman Solutions

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.