Envestnet Asset Management Inc. Decreases Stake in Hillman Solutions Corp. (NASDAQ:HLMN)

Envestnet Asset Management Inc. lessened its position in shares of Hillman Solutions Corp. (NASDAQ:HLMN) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,445,437 shares of the company’s stock after selling 42,731 shares during the quarter. Envestnet Asset Management Inc. owned 0.73% of Hillman Solutions worth $12,705,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HLMN. Victory Capital Management Inc. raised its position in Hillman Solutions by 91.8% during the fourth quarter. Victory Capital Management Inc. now owns 74,658 shares of the company’s stock valued at $727,000 after purchasing an additional 35,725 shares during the period. HighTower Advisors LLC raised its position in Hillman Solutions by 1.1% during the fourth quarter. HighTower Advisors LLC now owns 144,163 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,562 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Hillman Solutions by 4.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,330 shares of the company’s stock valued at $227,000 after purchasing an additional 1,061 shares during the period. Cibc World Markets Corp purchased a new stake in Hillman Solutions during the fourth quarter valued at approximately $179,000. Finally, Intech Investment Management LLC raised its position in Hillman Solutions by 108.9% during the fourth quarter. Intech Investment Management LLC now owns 66,158 shares of the company’s stock valued at $644,000 after purchasing an additional 34,485 shares during the period. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Buying and Selling

In other news, CFO Robert O. Kraft bought 140,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was purchased at an average price of $7.09 per share, for a total transaction of $992,600.00. Following the transaction, the chief financial officer owned 632,752 shares in the company, valued at approximately $4,486,211.68. This trade represents a 28.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.90% of the stock is owned by corporate insiders.

Hillman Solutions Trading Down 5.0%

Shares of Hillman Solutions stock opened at $7.82 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.46 and a quick ratio of 0.79. Hillman Solutions Corp. has a 1 year low of $6.55 and a 1 year high of $12.08. The company has a market capitalization of $1.54 billion, a P/E ratio of 86.90 and a beta of 1.65. The business has a 50 day moving average price of $7.44 and a 200 day moving average price of $8.48.

Hillman Solutions (NASDAQ:HLMN) last released its earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Hillman Solutions had a net margin of 1.24% and a return on equity of 8.73%. The firm had revenue of $359.34 million during the quarter, compared to analysts’ expectations of $358.14 million. During the same period in the previous year, the company earned $0.10 EPS. Hillman Solutions’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Hillman Solutions Corp. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on HLMN shares. Baird R W cut Hillman Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Stifel Nicolaus initiated coverage on Hillman Solutions in a research report on Monday, July 14th. They issued a “buy” rating and a $9.50 price objective for the company. Raymond James Financial set a $10.00 price objective on Hillman Solutions and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Barclays lowered their price objective on Hillman Solutions from $11.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird lowered their price objective on Hillman Solutions from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.75.

Hillman Solutions Profile

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.