Hillenbrand (NYSE:HI) Trading 13.9% Higher on Strong Earnings

Hillenbrand Inc (NYSE:HI)’s stock price traded up 13.9% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $21.68 and last traded at $22.53. 82,182 shares traded hands during trading, a decline of 84% from the average session volume of 505,010 shares. The stock had previously closed at $19.78.

The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $598.90 million for the quarter, compared to the consensus estimate of $572.48 million. Hillenbrand had a negative net margin of 0.63% and a positive return on equity of 13.38%. The firm’s revenue was down 23.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HI. KeyCorp cut shares of Hillenbrand from an “overweight” rating to a “sector weight” rating in a research report on Thursday, May 8th. DA Davidson lowered their price target on shares of Hillenbrand from $33.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st.

Hedge Funds Weigh In On Hillenbrand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in shares of Hillenbrand in the fourth quarter worth about $42,000. Sterling Capital Management LLC lifted its stake in shares of Hillenbrand by 712.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,520 shares of the company’s stock worth $47,000 after buying an additional 1,333 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Hillenbrand by 65.9% in the first quarter. GAMMA Investing LLC now owns 1,966 shares of the company’s stock worth $47,000 after buying an additional 781 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Hillenbrand by 29.0% in the second quarter. Public Employees Retirement System of Ohio now owns 2,432 shares of the company’s stock worth $49,000 after buying an additional 547 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Hillenbrand in the first quarter worth about $84,000. 89.09% of the stock is owned by hedge funds and other institutional investors.

Hillenbrand Trading Up 18.3%

The company’s 50 day moving average price is $21.07 and its two-hundred day moving average price is $23.81. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.51 and a quick ratio of 1.14. The stock has a market capitalization of $1.65 billion, a PE ratio of -93.60 and a beta of 1.46.

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.