1,712 Shares in Hillenbrand, Inc. (NYSE:HI) Bought by Kennebec Savings Bank

Kennebec Savings Bank purchased a new position in shares of Hillenbrand, Inc. (NYSE:HI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,712 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds have also recently modified their holdings of the company. Matrix Trust Co acquired a new stake in shares of Hillenbrand during the third quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Hillenbrand by 58.2% during the second quarter. GAMMA Investing LLC now owns 712 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the period. nVerses Capital LLC acquired a new stake in shares of Hillenbrand during the third quarter worth $75,000. Summit Securities Group LLC purchased a new position in Hillenbrand in the second quarter worth $90,000. Finally, Innealta Capital LLC purchased a new position in Hillenbrand in the second quarter worth $93,000. 89.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on HI. StockNews.com upgraded Hillenbrand from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. DA Davidson cut Hillenbrand from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $54.00 to $33.00 in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Hillenbrand Trading Up 2.6 %

Shares of HI stock opened at $31.85 on Tuesday. Hillenbrand, Inc. has a fifty-two week low of $25.11 and a fifty-two week high of $50.58. The stock has a market cap of $2.24 billion, a P/E ratio of -10.83 and a beta of 1.38. The business has a fifty day simple moving average of $27.91 and a 200-day simple moving average of $36.55. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.44.

Hillenbrand Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.2225 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Hillenbrand’s previous quarterly dividend of $0.22. Hillenbrand’s dividend payout ratio (DPR) is currently -30.27%.

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.