Raymond James & Associates Has $6.24 Million Stock Holdings in Hillenbrand, Inc. (NYSE:HI)

Raymond James & Associates reduced its holdings in Hillenbrand, Inc. (NYSE:HI - Free Report) by 42.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,610 shares of the company's stock after selling 167,586 shares during the period. Raymond James & Associates owned about 0.32% of Hillenbrand worth $6,244,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in shares of Hillenbrand by 16.1% during the 1st quarter. BNP Paribas Financial Markets now owns 63,621 shares of the company's stock worth $3,200,000 after purchasing an additional 8,799 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Hillenbrand by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 14,049 shares of the company's stock valued at $707,000 after buying an additional 535 shares during the last quarter. Financial Counselors Inc. increased its holdings in shares of Hillenbrand by 12.2% in the 1st quarter. Financial Counselors Inc. now owns 244,074 shares of the company's stock valued at $12,274,000 after acquiring an additional 26,574 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in Hillenbrand by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 61,396 shares of the company's stock worth $3,088,000 after purchasing an additional 999 shares in the last quarter. Finally, Swiss National Bank lifted its position in Hillenbrand by 0.4% in the first quarter. Swiss National Bank now owns 138,359 shares of the company's stock valued at $6,958,000 after acquiring an additional 600 shares during the last quarter. 89.09% of the stock is owned by hedge funds and other institutional investors.

Hillenbrand Trading Up 0.9 %

Shares of NYSE HI traded up $0.24 during trading on Friday, hitting $27.79. 280,039 shares of the company traded hands, compared to its average volume of 387,010. The firm has a market capitalization of $1.95 billion, a P/E ratio of -9.37 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $28.28 and a 200-day moving average price of $37.45. Hillenbrand, Inc. has a 1 year low of $25.11 and a 1 year high of $50.58.

Hillenbrand (NYSE:HI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. Hillenbrand had a positive return on equity of 14.89% and a negative net margin of 6.67%. The business had revenue of $786.60 million during the quarter, compared to analysts' expectations of $818.16 million. During the same quarter in the previous year, the business earned $0.95 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts predict that Hillenbrand, Inc. will post 3.23 EPS for the current year.

Hillenbrand Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.2225 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Hillenbrand's previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a yield of 3.20%. Hillenbrand's dividend payout ratio (DPR) is currently -30.27%.

Analyst Ratings Changes

A number of brokerages have weighed in on HI. DA Davidson lowered Hillenbrand from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $54.00 to $33.00 in a report on Monday, August 12th. KeyCorp initiated coverage on shares of Hillenbrand in a report on Wednesday, July 10th. They issued an "overweight" rating and a $50.00 price target on the stock. Finally, StockNews.com raised shares of Hillenbrand from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.00.

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.