Highbridge Capital Management LLC Invests $317,000 in Hillenbrand Inc (HI)
Highbridge Capital Management LLC purchased a new position in shares of Hillenbrand Inc (NYSE:HI) during the first quarter, according to its most recent disclosure with the SEC. The fund purchased 8,841 shares of the company’s stock, valued at approximately $317,000.
Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hillenbrand by 75.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,958 shares of the company’s stock worth $106,000 after buying an additional 1,268 shares during the period. Envestnet Asset Management Inc. increased its stake in Hillenbrand by 9.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,971 shares of the company’s stock worth $107,000 after buying an additional 255 shares during the period. Tyers Asset Management LLC increased its stake in Hillenbrand by 14.2% in the first quarter. Tyers Asset Management LLC now owns 3,388 shares of the company’s stock worth $121,000 after buying an additional 420 shares during the period. IFP Advisors Inc increased its stake in Hillenbrand by 0.4% in the first quarter. IFP Advisors Inc now owns 3,573 shares of the company’s stock worth $128,000 after buying an additional 14 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Hillenbrand by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,074 shares of the company’s stock worth $146,000 after buying an additional 37 shares during the period. 79.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Hillenbrand Inc (HI) opened at 35.60 on Monday. The firm’s 50-day moving average price is $36.46 and its 200-day moving average price is $36.79. The stock has a market cap of $2.24 billion, a P/E ratio of 18.65 and a beta of 1.25. Hillenbrand Inc has a 52-week low of $28.60 and a 52-week high of $39.00.
Hillenbrand (NYSE:HI) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. Hillenbrand had a return on equity of 20.27% and a net margin of 7.85%. The business had revenue of $395.30 million during the quarter, compared to analyst estimates of $389.43 million. During the same period last year, the company earned $0.49 earnings per share. Hillenbrand’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Hillenbrand Inc will post $2.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.82 annualized dividend and a dividend yield of 2.30%. Hillenbrand’s dividend payout ratio is 43.16%.
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Separately, Zacks Investment Research raised Hillenbrand from a “sell” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Monday, March 13th.
In related news, Director David Fennell bought 300,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were bought at an average cost of $0.10 per share, for a total transaction of $30,000.00. Over the last quarter, insiders have purchased 977,000 shares of company stock valued at $96,350. 1.74% of the stock is owned by corporate insiders.
Hillenbrand Company Profile
Hillenbrand, Inc is a diversified industrial company with multiple brands that serve a range of industries across the globe. The Company operates in two segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service engineered industrial equipment throughout the world.
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