Royal Bank of Canada Sells 243,321 Shares of Hillman Solutions Corp. $HLMN

Key Points

• Royal Bank of Canada cut its Hillman Solutions stake by 67.3% in the first quarter, selling 243,321 shares and retaining 118,229 shares valued at approximately $984,000.
• Other institutional investors increased their positions, and institutions collectively own 98.11% of Hillman Solutions stock.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $12.50. Hillman reported quarterly revenue of $442.25 million and earnings of $0.17 per share, matching analyst expectations.

Royal Bank of Canada decreased its holdings in Hillman Solutions Corp. (NASDAQ:HLMN - Free Report) by 67.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,229 shares of the company's stock after selling 243,321 shares during the quarter. Royal Bank of Canada owned 0.06% of Hillman Solutions worth $984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantinno Capital Management LP boosted its holdings in shares of Hillman Solutions by 114.5% during the 1st quarter. Quantinno Capital Management LP now owns 145,961 shares of the company's stock valued at $1,214,000 after acquiring an additional 77,926 shares during the last quarter. SummitTX Capital L.P. raised its holdings in shares of Hillman Solutions by 77.5% during the first quarter. SummitTX Capital L.P. now owns 66,628 shares of the company's stock valued at $554,000 after purchasing an additional 29,083 shares during the last quarter. Anchor Capital Management Company LLC lifted its position in Hillman Solutions by 33.1% during the first quarter. Anchor Capital Management Company LLC now owns 2,535,478 shares of the company's stock valued at $21,095,000 after purchasing an additional 630,000 shares during the period. Punch & Associates Investment Management Inc. lifted its position in Hillman Solutions by 1.7% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,774,109 shares of the company's stock valued at $14,761,000 after purchasing an additional 30,237 shares during the period. Finally, Wealth Alliance LLC lifted its position in Hillman Solutions by 4.7% during the first quarter. Wealth Alliance LLC now owns 38,726 shares of the company's stock valued at $322,000 after purchasing an additional 1,733 shares during the period. Institutional investors own 98.11% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of Hillman Solutions from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 4th. Barclays increased their price target on Hillman Solutions from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Canaccord Genuity Group dropped their price target on Hillman Solutions from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered Hillman Solutions from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hillman Solutions currently has an average rating of "Hold" and an average target price of $12.50.

Hillman Solutions Stock Performance

Shares of NASDAQ HLMN opened at $8.36 on Friday. The firm has a 50 day moving average of $8.26 and a 200 day moving average of $8.29. The company has a current ratio of 2.71, a quick ratio of 0.87 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 38.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. Hillman Solutions Corp. has a 12-month low of $6.96 and a 12-month high of $10.85.

Hillman Solutions (NASDAQ:HLMN - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Hillman Solutions had a net margin of 2.57% and a return on equity of 9.11%. The business had revenue of $442.25 million for the quarter, compared to the consensus estimate of $433.67 million. On average, research analysts anticipate that Hillman Solutions Corp. will post 0.6 earnings per share for the current year.

Hillman Solutions Profile

Hillman Solutions NASDAQ: HLMN is a leading provider of hardware and related products to the home improvement, retail, industrial and manufacturing markets. The company's portfolio encompasses key duplication systems and security solutions, hardware essentials such as fasteners and anchors, signage and labeling products, and outdoor and seasonal items. Hillman's product offerings are sold through a network of major home improvement retailers, wholesalers, independent distributors and other specialty outlets.

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman grew from a family-run enterprise into a global supplier of hardware solutions.

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