Comerica Bank Sells 8,040 Shares of Hillenbrand, Inc. (NYSE:HI)

Comerica Bank cut its stake in Hillenbrand, Inc. (NYSE:HI – Get Rating) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,141 shares of the company’s stock after selling 8,040 shares during the quarter. Comerica Bank owned 0.08% of Hillenbrand worth $2,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinebridge Investments L.P. increased its stake in shares of Hillenbrand by 263.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 727 shares of the company’s stock valued at $30,000 after acquiring an additional 527 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Hillenbrand by 77.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 803 shares of the company’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Hillenbrand in the 3rd quarter valued at about $77,000. Bridgefront Capital LLC bought a new stake in shares of Hillenbrand in the 1st quarter valued at about $238,000. Finally, KBC Group NV increased its stake in shares of Hillenbrand by 112.8% in the 2nd quarter. KBC Group NV now owns 6,266 shares of the company’s stock valued at $257,000 after acquiring an additional 3,321 shares during the last quarter. 85.15% of the stock is owned by institutional investors.

Hillenbrand Price Performance

Shares of HI opened at $43.56 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.81 and a current ratio of 1.30. The stock has a 50 day simple moving average of $46.19 and a 200 day simple moving average of $43.30. Hillenbrand, Inc. has a 52-week low of $36.16 and a 52-week high of $53.54. The firm has a market capitalization of $3.02 billion, a PE ratio of 15.02 and a beta of 1.43.

Hillenbrand (NYSE:HI – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Hillenbrand had a return on equity of 23.68% and a net margin of 7.10%. The business had revenue of $749.90 million during the quarter. Sell-side analysts predict that Hillenbrand, Inc. will post 4.25 EPS for the current fiscal year.

Hillenbrand Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.02%. This is an increase from Hillenbrand’s previous quarterly dividend of $0.22. Hillenbrand’s dividend payout ratio is 30.34%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Hillenbrand from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Hillenbrand Profile

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Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Advanced Process Solutions, Molding Technology Solutions, and Batesville. 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, as well as offers equipment system design services; 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.