PNC Financial Services Group Inc. Reduces Holdings in Hillenbrand Inc $HI

PNC Financial Services Group Inc. lowered its position in shares of Hillenbrand Inc (NYSE:HI) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 145,964 shares of the company’s stock after selling 7,342 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hillenbrand were worth $2,929,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Channing Capital Management LLC grew its stake in Hillenbrand by 224.0% during the 1st quarter. Channing Capital Management LLC now owns 2,173,373 shares of the company’s stock worth $52,465,000 after buying an additional 1,502,548 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Hillenbrand in the first quarter valued at approximately $25,996,000. Midwest Trust Co purchased a new position in shares of Hillenbrand during the second quarter worth approximately $6,845,000. Nuveen LLC acquired a new position in shares of Hillenbrand in the 1st quarter valued at $7,736,000. Finally, Nordea Investment Management AB raised its position in Hillenbrand by 84.4% in the 2nd quarter. Nordea Investment Management AB now owns 485,870 shares of the company’s stock valued at $9,849,000 after purchasing an additional 222,323 shares during the last quarter. 89.09% of the stock is owned by institutional investors and hedge funds.

Hillenbrand Trading Down 0.1%

Shares of Hillenbrand stock opened at $31.63 on Wednesday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -126.50 and a beta of 1.50. Hillenbrand Inc has a 52-week low of $18.36 and a 52-week high of $35.59. The company’s 50-day simple moving average is $28.53 and its 200-day simple moving average is $24.20. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 1.23.

Hillenbrand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Hillenbrand’s dividend payout ratio is -360.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HI. DA Davidson raised their price objective on shares of Hillenbrand from $24.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. CJS Securities reiterated a “market perform” rating and set a $32.00 target price on shares of Hillenbrand in a research note on Thursday, October 16th. Zacks Research cut Hillenbrand from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hillenbrand in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

Hillenbrand 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.