Truvestments Capital LLC acquired a new position in Hillenbrand, Inc. (NYSE:HI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,689 shares of the company’s stock, valued at approximately $114,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Morgan Stanley raised its stake in shares of Hillenbrand by 979.8% during the second quarter. Morgan Stanley now owns 783,351 shares of the company’s stock valued at $30,998,000 after acquiring an additional 710,804 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Hillenbrand during the second quarter valued at approximately $21,150,000. Wells Fargo & Company MN raised its stake in shares of Hillenbrand by 19.2% during the second quarter. Wells Fargo & Company MN now owns 1,326,746 shares of the company’s stock valued at $52,499,000 after acquiring an additional 214,107 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Hillenbrand during the second quarter valued at approximately $4,272,000. Finally, Skyline Asset Management LP bought a new stake in shares of Hillenbrand during the third quarter valued at approximately $3,088,000. 77.98% of the stock is owned by institutional investors and hedge funds.
NYSE HI traded up $1.46 on Friday, hitting $29.84. The stock had a trading volume of 2,937 shares, compared to its average volume of 668,487. The business’s fifty day moving average price is $29.10 and its 200 day moving average price is $35.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.90. Hillenbrand, Inc. has a 52-week low of $26.01 and a 52-week high of $51.51. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 12.23 and a beta of 1.28.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.82%. The ex-dividend date was Friday, September 13th. Hillenbrand’s dividend payout ratio is currently 34.57%.
Several equities analysts recently issued reports on HI shares. TheStreet lowered shares of Hillenbrand from a “b-” rating to a “c+” rating in a report on Friday, August 9th. Zacks Investment Research lowered shares of Hillenbrand from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. DA Davidson raised shares of Hillenbrand from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Monday, July 15th. Finally, ValuEngine raised shares of Hillenbrand from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Hillenbrand currently has an average rating of “Hold” and a consensus target price of $48.00.
Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. 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, forest products, and other general industrials.
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