Norges Bank Buys New Position in Hillenbrand, Inc. (HI)

Norges Bank bought a new stake in shares of Hillenbrand, Inc. (NYSE:HI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 895,178 shares of the company’s stock, valued at approximately $33,954,000. Norges Bank owned 1.43% of Hillenbrand as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Hillenbrand by 9.5% during the 4th quarter. Geode Capital Management LLC now owns 717,955 shares of the company’s stock valued at $27,231,000 after buying an additional 62,073 shares during the period. TD Asset Management Inc. boosted its stake in shares of Hillenbrand by 25.1% during the 4th quarter. TD Asset Management Inc. now owns 155,400 shares of the company’s stock valued at $5,894,000 after buying an additional 31,200 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Hillenbrand by 514.8% during the 3rd quarter. Renaissance Technologies LLC now owns 76,848 shares of the company’s stock valued at $4,019,000 after buying an additional 64,348 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Hillenbrand by 15.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,744 shares of the company’s stock valued at $218,000 after buying an additional 769 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Hillenbrand by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,051,980 shares of the company’s stock valued at $316,519,000 after buying an additional 224,967 shares during the period. 77.87% of the stock is owned by institutional investors.

HI stock opened at $42.88 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.84. Hillenbrand, Inc. has a 1 year low of $36.22 and a 1 year high of $53.41. The firm has a market capitalization of $2.67 billion, a P/E ratio of 17.91 and a beta of 1.25.

Hillenbrand (NYSE:HI) last released its quarterly earnings data on Tuesday, January 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Hillenbrand had a net margin of 4.87% and a return on equity of 20.72%. The business had revenue of $410.30 million during the quarter. Equities analysts forecast that Hillenbrand, Inc. will post 2.53 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 14th. Hillenbrand’s payout ratio is presently 34.57%.

Separately, Sidoti raised shares of Hillenbrand from a “neutral” rating to a “buy” rating in a research note on Thursday, January 3rd. Four equities research analysts have rated the stock with a buy rating, Hillenbrand presently has a consensus rating of “Buy” and an average target price of $59.00.

COPYRIGHT VIOLATION WARNING: “Norges Bank Buys New Position in Hillenbrand, Inc. (HI)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2019/04/17/norges-bank-buys-new-position-in-hillenbrand-inc-hi.html.

About Hillenbrand

Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. The company operates in two segments, Process Equipment Group and Batesville. The Process Equipment Group segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals and mining, energy, wastewater treatment, forest products, and other general industrials.

Further Reading: How mutual funds make money

Want to see what other hedge funds are holding HI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hillenbrand, Inc. (NYSE:HI).

Institutional Ownership by Quarter for Hillenbrand (NYSE:HI)

Receive News & Ratings for Hillenbrand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hillenbrand and related companies with MarketBeat.com's FREE daily email newsletter.