Hillenbrand, Inc. (NYSE:HI) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in Hillenbrand, Inc. (NYSE:HI) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,390 shares of the company’s stock after selling 1,006 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Hillenbrand worth $2,417,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Hillenbrand by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 868,965 shares of the company’s stock worth $41,580,000 after buying an additional 39,697 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Hillenbrand by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,747,176 shares of the company’s stock valued at $83,605,000 after purchasing an additional 120,782 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hillenbrand during the fourth quarter worth about $203,000. Janney Montgomery Scott LLC boosted its position in Hillenbrand by 29.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,514 shares of the company’s stock valued at $647,000 after buying an additional 3,098 shares during the last quarter. Finally, Norges Bank acquired a new position in Hillenbrand in the 4th quarter worth approximately $40,130,000. 89.09% of the stock is owned by institutional investors and hedge funds.

Hillenbrand Stock Down 0.8 %

Shares of HI opened at $26.86 on Tuesday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 22.20 and a beta of 1.39. Hillenbrand, Inc. has a one year low of $25.49 and a one year high of $50.58. The stock has a 50 day moving average price of $36.31 and a 200 day moving average price of $42.22. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.88 and a current ratio of 1.35.

Hillenbrand (NYSE:HI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Hillenbrand had a negative net margin of 6.67% and a positive return on equity of 14.89%. The business had revenue of $786.60 million during the quarter, compared to the consensus estimate of $818.16 million. During the same quarter last year, the firm earned $0.95 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Hillenbrand, Inc. will post 3.23 earnings per share for the current fiscal year.

Hillenbrand Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.2225 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Hillenbrand’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 3.31%. Hillenbrand’s dividend payout ratio is currently 73.55%.

Analysts Set New Price Targets

Several research analysts recently issued reports on HI shares. DA Davidson cut shares of Hillenbrand from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $33.00 in a report on Monday, August 12th. KeyCorp began coverage on Hillenbrand in a research report on Wednesday, July 10th. They set an “overweight” rating and a $50.00 price target for the company. Finally, StockNews.com raised shares of Hillenbrand from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Hillenbrand Company Profile

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.