Bank of America Corp DE Trims Position in Hillman Solutions Corp (NASDAQ:HLMN)

Bank of America Corp DE cut its stake in shares of Hillman Solutions Corp (NASDAQ:HLMN - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,412,470 shares of the company's stock after selling 704,220 shares during the period. Bank of America Corp DE owned 0.72% of Hillman Solutions worth $13,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HLMN. Envestnet Portfolio Solutions Inc. increased its stake in Hillman Solutions by 4.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,330 shares of the company's stock worth $227,000 after acquiring an additional 1,061 shares during the last quarter. Xponance Inc. grew its holdings in shares of Hillman Solutions by 10.1% during the fourth quarter. Xponance Inc. now owns 14,106 shares of the company's stock worth $137,000 after purchasing an additional 1,297 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Hillman Solutions by 1.1% during the fourth quarter. HighTower Advisors LLC now owns 144,163 shares of the company's stock worth $1,404,000 after purchasing an additional 1,562 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Hillman Solutions by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 119,406 shares of the company's stock worth $1,163,000 after purchasing an additional 2,391 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Hillman Solutions in the fourth quarter valued at approximately $25,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on HLMN. Raymond James set a $10.00 price target on shares of Hillman Solutions and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Baird R W downgraded shares of Hillman Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 16th. Benchmark reissued a "buy" rating and issued a $16.00 target price on shares of Hillman Solutions in a research note on Wednesday, February 19th. Barclays lowered their price target on Hillman Solutions from $11.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird cut their price objective on Hillman Solutions from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hillman Solutions has an average rating of "Hold" and a consensus price target of $11.00.

Hillman Solutions Price Performance

HLMN stock opened at $7.42 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 92.76 and a beta of 1.70. The firm's fifty day moving average is $8.00 and its 200 day moving average is $9.50. Hillman Solutions Corp has a 52 week low of $6.64 and a 52 week high of $12.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 2.32.

Hillman Solutions (NASDAQ:HLMN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Hillman Solutions had a net margin of 1.17% and a return on equity of 8.79%. The business had revenue of $359.34 million during the quarter, compared to analyst estimates of $358.14 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. Research analysts predict that Hillman Solutions Corp will post 0.58 earnings per share for the current year.

Insider Activity

In other news, CFO Robert O. Kraft bought 140,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average price of $7.09 per share, for a total transaction of $992,600.00. Following the completion of the acquisition, the chief financial officer now owns 632,752 shares of the company's stock, valued at approximately $4,486,211.68. This trade represents a 28.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

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.

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