Foundry Partners LLC Boosts Stake in Hillenbrand Inc (NYSE:HI)
Foundry Partners LLC raised its stake in Hillenbrand Inc (NYSE:HI) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,444 shares of the company’s stock after buying an additional 15,056 shares during the period. Foundry Partners LLC’s holdings in Hillenbrand were worth $9,005,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of HI. Boston Partners increased its position in shares of Hillenbrand by 2.9% in the second quarter. Boston Partners now owns 456,145 shares of the company’s stock valued at $16,466,000 after buying an additional 12,955 shares during the last quarter. Cigna Investments Inc. New acquired a new position in shares of Hillenbrand during the second quarter valued at about $453,000. IFP Advisors Inc increased its position in shares of Hillenbrand by 1.0% in the second quarter. IFP Advisors Inc now owns 3,608 shares of the company’s stock valued at $130,000 after buying an additional 35 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Hillenbrand by 1.6% in the second quarter. Great West Life Assurance Co. Can now owns 91,647 shares of the company’s stock valued at $3,303,000 after buying an additional 1,400 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Hillenbrand by 4.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,040 shares of the company’s stock valued at $543,000 after buying an additional 630 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.
Hillenbrand Inc (NYSE:HI) opened at 36.25 on Friday. The firm’s 50-day moving average is $36.15 and its 200 day moving average is $36.43. Hillenbrand Inc has a 12 month low of $28.60 and a 12 month high of $39.00. The stock has a market capitalization of $2.28 billion, a P/E ratio of 18.78 and a beta of 1.24.
Hillenbrand (NYSE:HI) last released its earnings results on Wednesday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. Hillenbrand had a net margin of 7.87% and a return on equity of 19.72%. The firm had revenue of $395.90 million during the quarter, compared to analyst estimates of $388.57 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Hillenbrand Inc will post $2.07 earnings per share for the current year.
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Several brokerages have issued reports on HI. BidaskClub downgraded shares of Hillenbrand from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. FBR & Co reissued an “outperform” rating on shares of Hillenbrand in a research report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded shares of Hillenbrand from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
In other Hillenbrand news, Director David Fennell bought 302,000 shares of the stock in a transaction on Monday, June 26th. The stock was purchased at an average price of $0.10 per share, for a total transaction of $30,200.00. In the last quarter, insiders have acquired 807,000 shares of company stock valued at $79,350. 1.74% of the stock is owned by insiders.
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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