Palisade Capital Management LP Purchases 98,175 Shares of Hillenbrand Inc (NYSE:HI)

Palisade Capital Management LP lifted its holdings in Hillenbrand Inc (NYSE:HI - Free Report) by 28.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,477 shares of the company's stock after buying an additional 98,175 shares during the quarter. Palisade Capital Management LP owned approximately 0.62% of Hillenbrand worth $10,609,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HI. Channing Capital Management LLC purchased a new stake in shares of Hillenbrand in the fourth quarter worth $20,648,000. Fuller & Thaler Asset Management Inc. increased its stake in Hillenbrand by 10.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,116,444 shares of the company's stock valued at $126,704,000 after purchasing an additional 387,048 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Hillenbrand in the fourth quarter worth about $7,782,000. Northern Trust Corp grew its holdings in shares of Hillenbrand by 24.4% during the fourth quarter. Northern Trust Corp now owns 900,666 shares of the company's stock valued at $27,722,000 after buying an additional 176,482 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Hillenbrand by 211.3% during the fourth quarter. Prudential Financial Inc. now owns 233,645 shares of the company's stock valued at $7,192,000 after buying an additional 158,597 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors.

Hillenbrand Stock Performance

Hillenbrand stock traded up $0.15 during mid-day trading on Thursday, reaching $22.71. 325,996 shares of the stock traded hands, compared to its average volume of 496,830. Hillenbrand Inc has a 12-month low of $18.36 and a 12-month high of $45.53. The business's 50-day moving average is $20.61 and its 200-day moving average is $25.84. 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 $1.60 billion, a PE ratio of -5.96 and a beta of 1.46.

Hillenbrand (NYSE:HI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. The firm had revenue of $715.90 million for the quarter, compared to analysts' expectations of $691.00 million. Hillenbrand had a negative net margin of 8.82% and a positive return on equity of 15.03%. The business's quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. As a group, sell-side analysts predict that Hillenbrand Inc will post 2.53 EPS for the current fiscal year.

Hillenbrand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.96%. The ex-dividend date was Monday, June 16th. Hillenbrand's dividend payout ratio is presently -23.62%.

Analyst Ratings Changes

Several research firms have recently weighed in on HI. KeyCorp cut Hillenbrand from an "overweight" rating to a "sector weight" rating in a research note on Thursday, May 8th. DA Davidson lowered their price objective on shares of Hillenbrand from $33.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st.

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.