New York State Teachers Retirement System Sells 8,200 Shares of Hillenbrand Inc (NYSE:HI)

New York State Teachers Retirement System trimmed its position in Hillenbrand Inc (NYSE:HI) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,577 shares of the company’s stock after selling 8,200 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Hillenbrand worth $2,331,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Verity Asset Management Inc. acquired a new position in shares of Hillenbrand during the first quarter valued at about $239,000. Illinois Municipal Retirement Fund bought a new stake in shares of Hillenbrand during the first quarter worth about $973,000. Handelsbanken Fonder AB increased its position in shares of Hillenbrand by 22.3% during the first quarter. Handelsbanken Fonder AB now owns 26,897 shares of the company’s stock worth $649,000 after acquiring an additional 4,900 shares in the last quarter. GAMMA Investing LLC grew its position in Hillenbrand by 65.9% in the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company’s stock worth $47,000 after purchasing an additional 781 shares in the last quarter. Finally, Matrix Trust Co grew its position in shares of Hillenbrand by 61.4% during the 1st quarter. Matrix Trust Co now owns 9,318 shares of the company’s stock valued at $225,000 after acquiring an additional 3,543 shares during the period. 89.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. KeyCorp cut shares of Hillenbrand from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 8th. DA Davidson reduced their target price on shares of Hillenbrand from $33.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st.

Hillenbrand Price Performance

Hillenbrand stock opened at $22.80 on Wednesday. The firm’s fifty day moving average is $20.61 and its 200 day moving average is $25.66. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -5.98 and a beta of 1.46. The company has a quick ratio of 1.14, a current ratio of 1.51 and a debt-to-equity ratio of 1.39. Hillenbrand Inc has a 52-week low of $18.36 and a 52-week high of $45.53.

Hillenbrand (NYSE:HI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. The business had revenue of $715.90 million during the quarter, compared to analyst estimates of $691.00 million. Hillenbrand had a negative net margin of 8.82% and a positive return on equity of 15.03%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. Sell-side analysts forecast that Hillenbrand Inc will post 2.53 EPS for the current fiscal year.

Hillenbrand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, June 16th. Hillenbrand’s dividend payout ratio is currently -23.62%.

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.