Hourglass Capital LLC Purchases 4,265 Shares of Federated Hermes, Inc. (NYSE:FHI)

Hourglass Capital LLC raised its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 188,675 shares of the company’s stock after buying an additional 4,265 shares during the period. Federated Hermes comprises about 2.0% of Hourglass Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Hourglass Capital LLC owned approximately 0.23% of Federated Hermes worth $7,692,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Meritage Portfolio Management boosted its holdings in shares of Federated Hermes by 100.7% during the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after purchasing an additional 11,523 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Federated Hermes during the first quarter valued at approximately $2,584,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after acquiring an additional 145,878 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Federated Hermes in the 1st quarter worth about $1,283,000. Finally, New Age Alpha Advisors LLC bought a new stake in Federated Hermes during the 4th quarter valued at approximately $461,000. Institutional investors own 75.94% of the company’s stock.

Insider Activity at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the sale, the vice president owned 316,930 shares of the company’s stock, valued at $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Federated Hermes Price Performance

NYSE:FHI opened at $45.55 on Tuesday. The business’s 50-day simple moving average is $42.74 and its two-hundred day simple moving average is $40.28. Federated Hermes, Inc. has a 52 week low of $31.94 and a 52 week high of $46.24. The stock has a market cap of $3.60 billion, a PE ratio of 12.83, a P/E/G ratio of 0.86 and a beta of 0.78. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The company had revenue of $423.54 million for the quarter, compared to analysts’ expectations of $425.43 million. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.99%. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 38.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FHI. Royal Bank Of Canada upped their price target on Federated Hermes from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. TD Cowen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Evercore ISI upped their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $42.33.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.