Hillenbrand (NYSE:HI) Posts Earnings Results, Beats Estimates By $0.06 EPS

Hillenbrand (NYSE:HI) announced its earnings results on Wednesday. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.07 by $0.06, Briefing.com reports. The firm had revenue of $762.80 million for the quarter, compared to analysts’ expectations of $742.11 million. Hillenbrand had a return on equity of 17.04% and a net margin of 21.62%. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. Hillenbrand updated its Q1 guidance to $0.66-0.71 EPS and its FY24 guidance to $3.60-3.95 EPS.

Hillenbrand Price Performance

NYSE:HI opened at $42.60 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 0.86. Hillenbrand has a one year low of $37.19 and a one year high of $53.76. The company has a fifty day moving average price of $41.10 and a 200 day moving average price of $46.42. The stock has a market cap of $2.98 billion, a P/E ratio of 4.82 and a beta of 1.51.

Hillenbrand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.22 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.07%. Hillenbrand’s dividend payout ratio is 10.14%.

Analysts Set New Price Targets

Separately, StockNews.com cut Hillenbrand from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th.

Institutional Investors Weigh In On Hillenbrand

Institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its stake in shares of Hillenbrand by 94.4% in the 1st quarter. Belpointe Asset Management LLC now owns 700 shares of the company’s stock valued at $33,000 after buying an additional 340 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Hillenbrand by 63.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 793 shares of the company’s stock worth $34,000 after purchasing an additional 308 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in Hillenbrand during the second quarter worth about $48,000. Lazard Asset Management LLC acquired a new stake in Hillenbrand during the third quarter valued at approximately $50,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Hillenbrand during the third quarter valued at approximately $112,000. 89.12% of the stock is owned by institutional investors and hedge funds.

About Hillenbrand

Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Advanced Process Solutions, Molding Technology Solutions, and Batesville. 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, as well as offers equipment system design services; 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.