JPMorgan Chase & Co. Cuts Stock Position in Hillman Solutions Corp (NASDAQ:HLMN)

JPMorgan Chase & Co. lessened its holdings in shares of Hillman Solutions Corp (NASDAQ:HLMN) by 20.9% during the 3rd quarter, Holdings Channel reports. The firm owned 8,648,997 shares of the company’s stock after selling 2,283,905 shares during the period. JPMorgan Chase & Co.’s holdings in Hillman Solutions were worth $91,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in Hillman Solutions by 231.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,317 shares of the company’s stock worth $35,000 after purchasing an additional 2,317 shares during the period. Quarry LP purchased a new stake in shares of Hillman Solutions during the third quarter worth approximately $43,000. Canada Pension Plan Investment Board acquired a new stake in Hillman Solutions in the second quarter valued at approximately $57,000. Benjamin F. Edwards & Company Inc. lifted its stake in Hillman Solutions by 103.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,779 shares of the company’s stock worth $78,000 after acquiring an additional 4,473 shares during the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in Hillman Solutions during the 3rd quarter worth approximately $132,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Hillman Solutions Price Performance

Shares of HLMN opened at $9.38 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 234.56 and a beta of 1.65. Hillman Solutions Corp has a fifty-two week low of $8.43 and a fifty-two week high of $12.08. The firm has a 50-day simple moving average of $10.75 and a 200-day simple moving average of $10.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 2.32.

Hillman Solutions (NASDAQ:HLMN) last announced its earnings results on Tuesday, November 5th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Hillman Solutions had a return on equity of 8.81% and a net margin of 0.57%. The company had revenue of $393.30 million for the quarter, compared to the consensus estimate of $389.50 million. During the same period last year, the business posted $0.11 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Hillman Solutions Corp will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Hillman Solutions

In related news, insider Scott Ride sold 72,523 shares of Hillman Solutions stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.66, for a total value of $773,095.18. Following the sale, the insider now directly owns 70,369 shares in the company, valued at $750,133.54. The trade was a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Woodlief sold 19,779 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.18, for a total value of $221,129.22. Following the completion of the transaction, the director now owns 55,811 shares of the company’s stock, valued at $623,966.98. The trade was a 26.17 % decrease in their position. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HLMN. Benchmark raised their price objective on shares of Hillman Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their price target on Hillman Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price objective on Hillman Solutions from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their target price on Hillman Solutions from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, William Blair lowered shares of Hillman Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.20.

Hillman Solutions Profile

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.