Victory Capital Management Inc. Purchases 66,741 Shares of Hillenbrand, Inc. (NYSE:HI)

Victory Capital Management Inc. grew its stake in shares of Hillenbrand, Inc. (NYSE:HI) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,873,289 shares of the company’s stock after purchasing an additional 66,741 shares during the quarter. Victory Capital Management Inc.’s holdings in Hillenbrand were worth $79,877,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in shares of Hillenbrand during the 3rd quarter worth approximately $210,000. GSA Capital Partners LLP acquired a new position in shares of Hillenbrand during the 3rd quarter worth approximately $627,000. Versor Investments LP acquired a new position in shares of Hillenbrand during the 3rd quarter worth approximately $259,000. Kennebec Savings Bank acquired a new position in shares of Hillenbrand during the 3rd quarter worth approximately $48,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Hillenbrand by 47.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,317 shares of the company’s stock worth $1,649,000 after purchasing an additional 19,201 shares during the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.

Hillenbrand Stock Down 1.7 %

HI stock opened at $30.17 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $2.12 billion, a PE ratio of -10.26 and a beta of 1.38. Hillenbrand, Inc. has a 1-year low of $25.11 and a 1-year high of $50.58. The business’s 50 day simple moving average is $27.87 and its 200 day simple moving average is $36.26.

Hillenbrand Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.2225 per share. The ex-dividend date was Monday, September 16th. This is a positive change from Hillenbrand’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 2.95%. Hillenbrand’s payout ratio is presently -30.27%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HI shares. StockNews.com raised Hillenbrand from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. DA Davidson lowered Hillenbrand from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $54.00 to $33.00 in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Hillenbrand presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Hillenbrand Company 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.