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

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

A number of other large investors have also added to or reduced their stakes in HI. R Squared Ltd bought a new stake in shares of Hillenbrand during the fourth quarter worth approximately $27,000. YANKCOM Partnership acquired a new stake in Hillenbrand during the 4th quarter worth approximately $30,000. Sterling Capital Management LLC boosted its stake in Hillenbrand by 712.8% in the 4th 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 boosted its stake in Hillenbrand by 161.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,842 shares of the company's stock valued at $57,000 after purchasing an additional 1,138 shares during the period. Finally, KBC Group NV increased its position 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 buying an additional 1,137 shares during the period. Institutional investors own 89.09% of the company's stock.

Hillenbrand Price Performance

Hillenbrand stock traded up $1.09 during mid-day trading on Tuesday, reaching $19.84. 859,650 shares of the company were exchanged, compared to its average volume of 488,337. The firm has a market cap of $1.40 billion, a PE ratio of -6.32 and a beta of 1.56. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.34 and a quick ratio of 0.86. The company has a fifty day simple moving average of $21.76 and a 200-day simple moving average of $28.17. Hillenbrand, Inc. has a 12 month low of $18.36 and a 12 month high of $46.92.

Hillenbrand (NYSE:HI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.60 earnings per share (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 company had revenue of $715.90 million for the quarter, compared to analyst estimates of $691.00 million. During the same period in the prior year, the firm posted $0.76 EPS. Hillenbrand's quarterly revenue was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Hillenbrand, Inc. will post 2.53 earnings per share for the current fiscal year.

Hillenbrand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.225 per share. The ex-dividend date is Monday, June 16th. This represents a $0.90 dividend on an annualized basis and a yield of 4.54%. Hillenbrand's payout ratio is -23.62%.

Analyst Ratings Changes

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

Hillenbrand Company Profile

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.