ProShare Advisors LLC Raises Stake in Hillenbrand Inc $HI

ProShare Advisors LLC raised its position in shares of Hillenbrand Inc (NYSE:HI) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 297,637 shares of the company’s stock after purchasing an additional 23,938 shares during the period. ProShare Advisors LLC owned 0.42% of Hillenbrand worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HI. Public Employees Retirement System of Ohio boosted its holdings in Hillenbrand by 29.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,432 shares of the company’s stock worth $49,000 after buying an additional 547 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Hillenbrand during the first quarter worth $84,000. Jones Financial Companies Lllp boosted its holdings in shares of Hillenbrand by 622.7% in the first quarter. Jones Financial Companies Lllp now owns 3,729 shares of the company’s stock worth $90,000 after acquiring an additional 3,213 shares during the period. Nisa Investment Advisors LLC grew its holdings in Hillenbrand by 69.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,152 shares of the company’s stock valued at $197,000 after buying an additional 3,332 shares in the last quarter. Finally, MGO One Seven LLC bought a new stake in shares of Hillenbrand during the second quarter valued at about $202,000. 89.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research cut shares of Hillenbrand from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. DA Davidson increased their price objective on Hillenbrand from $24.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. CJS Securities restated a “market perform” rating and issued a $32.00 target price on shares of Hillenbrand in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hillenbrand in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Hillenbrand Price Performance

Shares of HI stock opened at $31.67 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.87 and a current ratio of 1.25. Hillenbrand Inc has a fifty-two week low of $18.36 and a fifty-two week high of $35.59. The firm has a market cap of $2.23 billion, a P/E ratio of -126.68 and a beta of 1.50. The business’s 50 day moving average price is $28.16 and its 200-day moving average price is $23.95.

Hillenbrand (NYSE:HI) last released its quarterly earnings results on Monday, August 11th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Hillenbrand had a negative net margin of 0.63% and a positive return on equity of 13.53%. The business had revenue of $598.90 million for the quarter, compared to analysts’ expectations of $572.48 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was down 23.9% compared to the same quarter last year. On average, equities research analysts anticipate that Hillenbrand Inc will post 2.53 earnings per share for the current year.

Hillenbrand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Hillenbrand’s payout ratio is presently -360.00%.

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.