Arizona State Retirement System Increases Position in Hillenbrand Inc (HI)
Arizona State Retirement System boosted its stake in shares of Hillenbrand Inc (NYSE:HI) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,180 shares of the company’s stock after buying an additional 700 shares during the period. Arizona State Retirement System owned approximately 0.05% of Hillenbrand worth $1,190,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in HI. Victory Capital Management Inc. boosted its stake in shares of Hillenbrand by 1.2% in the first quarter. Victory Capital Management Inc. now owns 17,401 shares of the company’s stock valued at $624,000 after buying an additional 212 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Hillenbrand by 19.8% in the first quarter. Stifel Financial Corp now owns 306,137 shares of the company’s stock valued at $10,978,000 after buying an additional 50,598 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Hillenbrand by 74.7% in the first quarter. Prudential Financial Inc. now owns 219,981 shares of the company’s stock valued at $7,886,000 after buying an additional 94,080 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Hillenbrand during the first quarter valued at about $242,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Hillenbrand by 9.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,971 shares of the company’s stock valued at $107,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 79.47% of the company’s stock.
Hillenbrand Inc (NYSE:HI) opened at 36.75 on Friday. The stock’s 50 day moving average price is $36.78 and its 200 day moving average price is $36.77. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 19.25 and a beta of 1.21. Hillenbrand Inc has a 12-month low of $27.89 and a 12-month high of $39.00.
Hillenbrand (NYSE:HI) last released its earnings results on Wednesday, May 3rd. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. Hillenbrand had a net margin of 7.85% and a return on equity of 20.27%. The business had revenue of $395.30 million during the quarter, compared to analysts’ expectations of $389.43 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Hillenbrand Inc will post $2.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, June 14th. Hillenbrand’s dividend payout ratio is 43.16%.
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Separately, Zacks Investment Research upgraded Hillenbrand from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, May 16th.
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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