Bank of New York Mellon Corp Cuts Stake in Hillenbrand, Inc. (NYSE:HI)

Bank of New York Mellon Corp reduced its stake in shares of Hillenbrand, Inc. (NYSE:HI - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,448 shares of the company's stock after selling 240,305 shares during the period. Bank of New York Mellon Corp owned 0.72% of Hillenbrand worth $15,558,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Hillenbrand during the 3rd quarter worth about $627,000. Jane Street Group LLC lifted its holdings in shares of Hillenbrand by 19.3% during the 3rd quarter. Jane Street Group LLC now owns 205,053 shares of the company's stock worth $5,700,000 after acquiring an additional 33,117 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Hillenbrand by 284.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,995 shares of the company's stock worth $611,000 after acquiring an additional 16,274 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Hillenbrand by 30.1% during the 3rd quarter. Financial Counselors Inc. now owns 322,252 shares of the company's stock worth $8,959,000 after acquiring an additional 74,527 shares during the period. Finally, State Street Corp lifted its holdings in shares of Hillenbrand by 0.7% during the 3rd quarter. State Street Corp now owns 2,739,689 shares of the company's stock worth $76,163,000 after acquiring an additional 19,546 shares during the period. 89.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HI shares. StockNews.com lowered shares of Hillenbrand from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. KeyCorp cut their price target on shares of Hillenbrand from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Finally, DA Davidson restated a "neutral" rating and issued a $33.00 price target on shares of Hillenbrand in a report on Friday, November 15th.

Remove Ads

Hillenbrand Trading Up 1.7 %

NYSE HI opened at $26.60 on Wednesday. Hillenbrand, Inc. has a one year low of $25.11 and a one year high of $50.58. The company's 50 day moving average price is $31.94 and its 200 day moving average price is $30.63. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.34. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -8.47 and a beta of 1.41.

Hillenbrand (NYSE:HI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Hillenbrand had a negative net margin of 7.12% and a positive return on equity of 15.00%. During the same quarter last year, the company earned $0.69 EPS. On average, sell-side analysts predict that Hillenbrand, Inc. will post 2.53 EPS for the current year.

Hillenbrand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.38%. Hillenbrand's dividend payout ratio is currently -28.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.