State of New Jersey Common Pension Fund D Buys 19,201 Shares of Hillenbrand, Inc. (NYSE:HI)

State of New Jersey Common Pension Fund D grew its stake in Hillenbrand, Inc. (NYSE:HI) by 47.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,317 shares of the company’s stock after purchasing an additional 19,201 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Hillenbrand worth $1,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. UniSuper Management Pty Ltd bought a new position in Hillenbrand during the first quarter valued at about $755,000. Vanguard Group Inc. increased its position in shares of Hillenbrand by 3.5% during the first quarter. Vanguard Group Inc. now owns 8,702,418 shares of the company’s stock valued at $437,645,000 after purchasing an additional 290,275 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Hillenbrand in the first quarter valued at $3,285,000. Raymond James & Associates lifted its position in Hillenbrand by 4.3% in the second quarter. Raymond James & Associates now owns 392,196 shares of the company’s stock worth $15,696,000 after purchasing an additional 16,323 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Hillenbrand during the first quarter worth $281,000. Institutional investors own 89.09% of the company’s stock.

Analysts Set New Price Targets

HI has been the subject of a number of recent research reports. KeyCorp dropped their price objective on shares of Hillenbrand from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. DA Davidson restated a “neutral” rating and set a $33.00 price target on shares of Hillenbrand in a research note on Friday. Finally, StockNews.com lowered Hillenbrand from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.67.

Hillenbrand Trading Down 1.6 %

Shares of Hillenbrand stock opened at $32.25 on Tuesday. Hillenbrand, Inc. has a 12-month low of $25.11 and a 12-month high of $50.58. The stock has a market capitalization of $2.26 billion, a P/E ratio of -10.79 and a beta of 1.38. The company has a 50-day simple moving average of $28.01 and a 200 day simple moving average of $36.00. The company has a quick ratio of 0.88, a current ratio of 1.27 and a debt-to-equity ratio of 1.28.

Hillenbrand (NYSE:HI) last posted its quarterly earnings data on Wednesday, November 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. The company had revenue of $837.60 million during the quarter, compared to analyst estimates of $793.38 million. Hillenbrand had a negative net margin of 6.63% and a positive return on equity of 14.86%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. Research analysts expect that Hillenbrand, Inc. will post 3.05 earnings per share for the current fiscal year.

Hillenbrand Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hillenbrand’s previous quarterly dividend of $0.22. Hillenbrand’s dividend payout ratio is presently -29.77%.

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.