Zurcher Kantonalbank Zurich Cantonalbank Buys 5,982 Shares of Hillenbrand, Inc. (NYSE:HI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hillenbrand, Inc. (NYSE:HI) by 38.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,558 shares of the company’s stock after acquiring an additional 5,982 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hillenbrand were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Matrix Trust Co bought a new stake in shares of Hillenbrand during the third quarter worth approximately $25,000. GAMMA Investing LLC raised its stake 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 buying an additional 262 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Hillenbrand during the third quarter worth approximately $48,000. KBC Group NV raised its stake in shares of Hillenbrand by 32.2% during the third quarter. KBC Group NV now owns 2,263 shares of the company’s stock worth $63,000 after buying an additional 551 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Hillenbrand during the third quarter worth approximately $75,000. 89.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Hillenbrand from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. StockNews.com upgraded shares of Hillenbrand from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, DA Davidson restated a “neutral” rating and set a $33.00 price objective on shares of Hillenbrand in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.67.

Hillenbrand Stock Performance

Shares of HI opened at $33.18 on Friday. Hillenbrand, Inc. has a 12 month low of $25.11 and a 12 month high of $50.58. The firm has a fifty day simple moving average of $29.92 and a 200 day simple moving average of $34.93. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -11.10 and a beta of 1.43. The company has a current ratio of 1.27, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28.

Hillenbrand (NYSE:HI) last announced its earnings results on Wednesday, November 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. Hillenbrand had a negative net margin of 6.63% and a positive return on equity of 14.86%. The business had revenue of $837.60 million during the quarter, compared to analysts’ expectations of $793.38 million. During the same quarter in the prior year, the company posted $1.13 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Hillenbrand, Inc. will post 3.2 EPS for the current fiscal year.

Hillenbrand Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.225 per share. This is a boost from Hillenbrand’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 16th. This represents a $0.90 annualized dividend and a yield of 2.71%. Hillenbrand’s dividend payout ratio is presently -29.77%.

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.