TD Asset Management Inc Buys New Shares in Hillenbrand Inc (NYSE:HI)

Key Points

• TD Asset Management Inc purchased 21,468 shares of Hillenbrand Inc, valued at approximately $518,000, marking a notable investment in the company during the first quarter.
• Several hedge funds, including Fuller & Thaler Asset Management Inc and New York State Common Retirement Fund, have increased their holdings in Hillenbrand, with institutional investors now owning 89.09% of the company's stock.
• Analysts have revised target prices for Hillenbrand, with DA Davidson lowering its price target from $33.00 to $24.00 and changing its rating to "neutral."

TD Asset Management Inc bought a new stake in Hillenbrand Inc (NYSE:HI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,468 shares of the company's stock, valued at approximately $518,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Hillenbrand by 10.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,116,444 shares of the company's stock worth $126,704,000 after acquiring an additional 387,048 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Hillenbrand by 130.6% during the 1st quarter. New York State Common Retirement Fund now owns 643,506 shares of the company's stock worth $15,534,000 after acquiring an additional 364,461 shares during the period. Raymond James Financial Inc. bought a new position in shares of Hillenbrand during the 4th quarter worth approximately $7,782,000. Northern Trust Corp boosted its stake in shares of Hillenbrand by 24.4% during the 4th quarter. Northern Trust Corp now owns 900,666 shares of the company's stock worth $27,722,000 after acquiring an additional 176,482 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in shares of Hillenbrand during the 4th quarter worth approximately $4,075,000. Institutional investors and hedge funds own 89.09% of the company's stock.

Analysts Set New Price Targets

HI has been the topic of several research reports. DA Davidson decreased their target price on Hillenbrand from $33.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. KeyCorp downgraded Hillenbrand from an "overweight" rating to a "sector weight" rating in a research report on Thursday, May 8th.

Hillenbrand Price Performance

Hillenbrand stock opened at $20.09 on Tuesday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.27 and a beta of 1.46. Hillenbrand Inc has a 12 month low of $18.36 and a 12 month high of $40.01. The company has a current ratio of 1.51, a quick ratio of 1.14 and a debt-to-equity ratio of 1.39. The stock's 50 day moving average is $20.92 and its 200-day moving average is $24.43.

Hillenbrand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.90 dividend on an annualized basis and a yield of 4.5%. Hillenbrand's dividend payout ratio is currently -23.62%.

Hillenbrand 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.

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