Rhumbline Advisers decreased its stake in Hillenbrand, Inc. (NYSE:HI) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,574 shares of the company’s stock after selling 15,016 shares during the period. Rhumbline Advisers owned 0.23% of Hillenbrand worth $7,561,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Hillenbrand by 8.4% in the second quarter. BlackRock Inc. now owns 9,414,734 shares of the company’s stock worth $443,905,000 after purchasing an additional 729,389 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Hillenbrand by 1.6% in the second quarter. Wells Fargo & Company MN now owns 1,047,884 shares of the company’s stock worth $49,407,000 after purchasing an additional 16,755 shares in the last quarter. Northern Trust Corp increased its stake in shares of Hillenbrand by 1.6% in the second quarter. Northern Trust Corp now owns 831,468 shares of the company’s stock worth $39,203,000 after purchasing an additional 12,935 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Hillenbrand by 2.4% in the second quarter. Glenmede Trust Co. NA now owns 718,645 shares of the company’s stock worth $33,885,000 after purchasing an additional 17,095 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Hillenbrand by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 648,135 shares of the company’s stock worth $30,560,000 after purchasing an additional 18,814 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.
Separately, Sidoti downgraded shares of Hillenbrand from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Hillenbrand has a consensus rating of “Buy” and a consensus price target of $59.00.
Hillenbrand (NYSE:HI) last posted its earnings results on Tuesday, November 13th. The company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $474.70 million during the quarter, compared to the consensus estimate of $449.90 million. Hillenbrand had a net margin of 4.33% and a return on equity of 21.01%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. On average, equities research analysts anticipate that Hillenbrand, Inc. will post 2.53 EPS for the current fiscal year.
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Hillenbrand Company Profile
Hillenbrand, Inc operates as a diversified industrial company worldwide. The company operates in two segments, Process Equipment Group and Batesville. The Process Equipment Group segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals and mining, energy, wastewater treatment, and forest products.
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