Vident Investment Advisory LLC Has $254,000 Position in Hillenbrand, Inc. (HI)
Vident Investment Advisory LLC reduced its stake in Hillenbrand, Inc. (NYSE:HI) by 40.2% in the second quarter, Holdings Channel reports. The institutional investor owned 5,393 shares of the company’s stock after selling 3,622 shares during the quarter. Vident Investment Advisory LLC’s holdings in Hillenbrand were worth $254,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HI. SG Americas Securities LLC raised its position in Hillenbrand by 50.0% in the 1st quarter. SG Americas Securities LLC now owns 10,426 shares of the company’s stock valued at $479,000 after buying an additional 3,477 shares during the last quarter. Swiss National Bank raised its position in Hillenbrand by 3.4% in the 1st quarter. Swiss National Bank now owns 109,700 shares of the company’s stock valued at $5,035,000 after buying an additional 3,600 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Hillenbrand by 21.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 629,321 shares of the company’s stock valued at $28,886,000 after purchasing an additional 112,713 shares during the last quarter. Aperio Group LLC increased its position in shares of Hillenbrand by 9.1% during the 1st quarter. Aperio Group LLC now owns 20,794 shares of the company’s stock valued at $954,000 after purchasing an additional 1,739 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Hillenbrand by 4.6% during the 1st quarter. BlackRock Inc. now owns 8,685,345 shares of the company’s stock valued at $398,657,000 after purchasing an additional 381,777 shares during the last quarter. 76.04% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE HI opened at $51.95 on Tuesday. Hillenbrand, Inc. has a 52 week low of $37.55 and a 52 week high of $53.25. The company has a quick ratio of 0.89, a current ratio of 1.22 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.91 and a beta of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.2075 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.83 annualized dividend and a yield of 1.60%. This is an increase from Hillenbrand’s previous quarterly dividend of $0.21. Hillenbrand’s dividend payout ratio (DPR) is currently 39.34%.
HI has been the subject of several research reports. TheStreet upgraded Hillenbrand from a “c+” rating to an “a-” rating in a research note on Thursday, August 2nd. B. Riley set a $62.00 price target on Hillenbrand and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded Hillenbrand from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, Sidoti downgraded 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $59.00.
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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