Hillenbrand Inc (HI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Hillenbrand Inc (NYSE:HI) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “HILLENBRAND, INC. is the holding company for Batesville Casket Company, a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing and other personalization and memorialization products. “
Other equities analysts have also recently issued reports about the stock. FBR & Co reissued an outperform rating on shares of Hillenbrand in a research report on Tuesday, July 11th. BidaskClub cut shares of Hillenbrand from a sell rating to a strong sell rating in a research report on Friday, July 28th.
Shares of Hillenbrand (HI) opened at 36.45 on Tuesday. Hillenbrand has a 12-month low of $28.60 and a 12-month high of $39.00. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 18.89 and a beta of 1.24. The stock has a 50 day moving average price of $35.91 and a 200-day moving average price of $36.26.
Hillenbrand (NYSE:HI) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $395.90 million for the quarter, compared to analysts’ expectations of $388.57 million. Hillenbrand had a net margin of 7.87% and a return on equity of 19.72%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities analysts anticipate that Hillenbrand will post $2.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.82 annualized dividend and a yield of 2.26%. Hillenbrand’s dividend payout ratio is currently 42.27%.
In related news, Director David Fennell acquired 302,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average cost of $0.10 per share, with a total value of $30,200.00. Insiders purchased a total of 797,000 shares of company stock worth $78,350 over the last ninety days. 1.74% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd lifted its position in Hillenbrand by 50.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 14,798 shares of the company’s stock worth $534,000 after buying an additional 4,983 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Hillenbrand by 6.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,771 shares of the company’s stock worth $136,000 after buying an additional 230 shares in the last quarter. Koch Industries Inc. bought a new stake in Hillenbrand during the 2nd quarter worth about $308,000. Piedmont Investment Advisors LLC bought a new stake in Hillenbrand during the 2nd quarter worth about $492,000. Finally, Ameritas Investment Partners Inc. lifted its position in Hillenbrand by 9.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,560 shares of the company’s stock worth $201,000 after buying an additional 460 shares in the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.
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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