Municipal Employees Retirement System of Michigan boosted its stake in shares of Hillenbrand, Inc. (NYSE:HI) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,860 shares of the company’s stock after acquiring an additional 1,310 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Hillenbrand were worth $1,370,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of HI. Glenmede Trust Co. NA grew its stake in Hillenbrand by 175,287.5% during the fourth quarter. Glenmede Trust Co. NA now owns 701,550 shares of the company’s stock valued at $31,358,000 after acquiring an additional 701,150 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Hillenbrand by 606.3% in the 4th quarter. Two Sigma Advisers LP now owns 457,546 shares of the company’s stock worth $20,452,000 after buying an additional 392,761 shares in the last quarter. BlackRock Inc. grew its stake in shares of Hillenbrand by 4.6% in the 1st quarter. BlackRock Inc. now owns 8,685,345 shares of the company’s stock worth $398,657,000 after buying an additional 381,777 shares in the last quarter. Channing Capital Management LLC grew its stake in shares of Hillenbrand by 17.0% in the 4th quarter. Channing Capital Management LLC now owns 1,701,045 shares of the company’s stock worth $76,037,000 after buying an additional 246,866 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Hillenbrand by 33.1% in the 4th quarter. Millennium Management LLC now owns 897,718 shares of the company’s stock worth $40,128,000 after buying an additional 223,391 shares in the last quarter. 77.30% of the stock is owned by institutional investors.
In related news, insider Joe Anthony Raver sold 33,931 shares of Hillenbrand stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $47.04, for a total transaction of $1,596,114.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.81% of the stock is currently owned by insiders.
Hillenbrand (NYSE:HI) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Hillenbrand had a net margin of 3.99% and a return on equity of 20.08%. The business had revenue of $452.20 million during the quarter, compared to analysts’ expectations of $434.70 million. During the same period last year, the company posted $0.53 EPS. The business’s revenue was up 14.4% on a year-over-year basis. research analysts expect that Hillenbrand, Inc. will post 2.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.207 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 1.76%. Hillenbrand’s dividend payout ratio is presently 39.34%.
A number of equities analysts have commented on HI shares. B. Riley lifted their price objective on shares of Hillenbrand from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. ValuEngine raised shares of Hillenbrand from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Hillenbrand from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, February 15th. Finally, TheStreet cut shares of Hillenbrand from an “a-” rating to a “c+” rating in a research note on Monday, May 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $52.00.
Hillenbrand Company Profile
Hillenbrand, Inc operates as a diversified industrial company worldwide. The company operates in two segments, Process Equipment Group and Batesville. The Process Equipment Group segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals and mining, energy, wastewater treatment, and forest products.
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