Hillenbrand (NYSE:HI) Announces Quarterly Earnings Results

Hillenbrand (NYSE:HI) posted its earnings results on Wednesday. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21, FiscalAI reports. Hillenbrand had a positive return on equity of 13.53% and a negative net margin of 0.63%.The firm had revenue of $652.10 million for the quarter, compared to the consensus estimate of $592.25 million.

Hillenbrand Stock Up 0.0%

Shares of NYSE HI traded up $0.02 during trading on Wednesday, reaching $31.64. The company had a trading volume of 671,058 shares, compared to its average volume of 819,797. Hillenbrand has a 12-month low of $18.36 and a 12-month high of $35.59. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average is $28.53 and its 200 day moving average is $24.20. The stock has a market cap of $2.23 billion, a PE ratio of -126.54 and a beta of 1.50.

Hillenbrand Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HI shares. DA Davidson lifted their price target on Hillenbrand from $24.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Zacks Research lowered Hillenbrand from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Hillenbrand in a report on Wednesday, October 8th. Finally, CJS Securities reaffirmed a “market perform” rating and issued a $32.00 target price on shares of Hillenbrand in a research report on Thursday, October 16th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Hedge Funds Weigh In On Hillenbrand

A number of hedge funds have recently bought and sold shares of the company. Voloridge Investment Management LLC increased its stake in Hillenbrand by 1.0% during the 3rd quarter. Voloridge Investment Management LLC now owns 266,222 shares of the company’s stock valued at $7,199,000 after purchasing an additional 2,659 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Hillenbrand by 23.0% in the third quarter. Verition Fund Management LLC now owns 48,352 shares of the company’s stock worth $1,307,000 after buying an additional 9,055 shares in the last quarter. Verity Asset Management Inc. grew its holdings in shares of Hillenbrand by 9.8% during the third quarter. Verity Asset Management Inc. now owns 12,600 shares of the company’s stock valued at $341,000 after buying an additional 1,128 shares during the last quarter. Millennium Management LLC increased its position in shares of Hillenbrand by 78.2% during the third quarter. Millennium Management LLC now owns 114,683 shares of the company’s stock valued at $3,101,000 after acquiring an additional 50,332 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Hillenbrand by 2.2% in the 3rd quarter. Alliancebernstein L.P. now owns 88,812 shares of the company’s stock worth $2,401,000 after acquiring an additional 1,935 shares during the last quarter. Institutional investors own 89.09% of the company’s stock.

About Hillenbrand

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.