Vident Investment Advisory LLC lowered its position in Hillenbrand, Inc. (NYSE:HI) by 40.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,393 shares of the company’s stock after selling 3,622 shares during the quarter. Vident Investment Advisory LLC’s holdings in Hillenbrand were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in shares of Hillenbrand by 23.3% in the second quarter. Macquarie Group Ltd. now owns 5,300 shares of the company’s stock valued at $250,000 after buying an additional 1,000 shares during the period. Stevens Capital Management LP increased its stake in shares of Hillenbrand by 5.0% in the second quarter. Stevens Capital Management LP now owns 22,057 shares of the company’s stock valued at $1,040,000 after buying an additional 1,042 shares during the period. Mason Street Advisors LLC increased its stake in shares of Hillenbrand by 6.7% in the first quarter. Mason Street Advisors LLC now owns 17,485 shares of the company’s stock valued at $803,000 after buying an additional 1,092 shares during the period. Piedmont Investment Advisors LLC increased its stake in shares of Hillenbrand by 8.2% in the second quarter. Piedmont Investment Advisors LLC now owns 14,572 shares of the company’s stock valued at $687,000 after buying an additional 1,100 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Hillenbrand by 12.5% in the second quarter. Amalgamated Bank now owns 10,232 shares of the company’s stock valued at $482,000 after buying an additional 1,134 shares during the period. 76.04% of the stock is owned by institutional investors.
Shares of HI opened at $51.95 on Tuesday. Hillenbrand, Inc. has a 12-month low of $37.55 and a 12-month high of $53.25. The company has a current ratio of 1.22, a quick ratio of 0.89 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.25 billion, a P/E ratio of 21.91 and a beta of 1.28.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.2075 dividend. This is a boost from Hillenbrand’s previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, September 13th. Hillenbrand’s dividend payout ratio (DPR) is currently 39.34%.
Several research analysts have recently issued reports on the company. Sidoti downgraded Hillenbrand from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. TheStreet upgraded Hillenbrand from a “c+” rating to an “a-” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Hillenbrand from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, August 3rd. Finally, B. Riley set a $62.00 target price on Hillenbrand and gave the company a “buy” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Hillenbrand currently has an average rating of “Buy” and a consensus price target of $59.00.
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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