Bank of America Corp DE Purchases 48,508 Shares of Hillenbrand, Inc. (NYSE:HI)

Bank of America Corp DE grew its stake in shares of Hillenbrand, Inc. (NYSE:HI - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 504,602 shares of the company's stock after acquiring an additional 48,508 shares during the quarter. Bank of America Corp DE owned about 0.72% of Hillenbrand worth $15,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Hillenbrand in the 4th quarter valued at approximately $27,000. YANKCOM Partnership acquired a new stake in Hillenbrand during the 4th quarter worth approximately $30,000. Sterling Capital Management LLC increased its holdings in Hillenbrand by 712.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,520 shares of the company's stock valued at $47,000 after purchasing an additional 1,333 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Hillenbrand by 161.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,842 shares of the company's stock valued at $57,000 after buying an additional 1,138 shares during the period. Finally, KBC Group NV raised its holdings in Hillenbrand by 50.2% during the 4th quarter. KBC Group NV now owns 3,400 shares of the company's stock worth $105,000 after purchasing an additional 1,137 shares during the last quarter. Institutional investors own 89.09% of the company's stock.

Analyst Upgrades and Downgrades

HI has been the topic of a number of research analyst reports. KeyCorp cut Hillenbrand from an "overweight" rating to a "sector weight" rating in a report on Thursday, May 8th. DA Davidson dropped their price objective on Hillenbrand from $33.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered Hillenbrand from a "buy" rating to a "hold" rating in a report on Thursday, February 6th.

Hillenbrand Price Performance

Shares of HI stock traded up $0.64 during trading hours on Tuesday, reaching $19.39. The stock had a trading volume of 27,359 shares, compared to its average volume of 485,105. The stock's fifty day simple moving average is $21.89 and its 200 day simple moving average is $28.23. The firm has a market capitalization of $1.37 billion, a PE ratio of -6.16 and a beta of 1.56. Hillenbrand, Inc. has a 12 month low of $18.36 and a 12 month high of $46.92. The company has a current ratio of 1.34, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Hillenbrand (NYSE:HI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.54 by $0.06. Hillenbrand had a positive return on equity of 15.00% and a negative net margin of 7.12%. The business had revenue of $715.90 million during the quarter, compared to analysts' expectations of $691.00 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm's revenue was down 8.8% on a year-over-year basis. On average, equities research analysts predict that Hillenbrand, Inc. will post 2.53 EPS for the current year.

Hillenbrand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is 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.