Kennebec Savings Bank Buys New Position in Hillenbrand, Inc. (NYSE:HI)

Kennebec Savings Bank bought a new stake in shares of Hillenbrand, Inc. (NYSE:HI) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 1,712 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds have also modified their holdings of the company. Matrix Trust Co purchased a new stake in shares of Hillenbrand during the 3rd quarter valued at about $25,000. GAMMA Investing LLC increased its holdings in Hillenbrand by 58.2% during the 2nd quarter. GAMMA Investing LLC now owns 712 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. nVerses Capital LLC purchased a new stake in Hillenbrand during the 3rd quarter worth approximately $75,000. Summit Securities Group LLC purchased a new stake in Hillenbrand during the 2nd quarter worth approximately $90,000. Finally, Innealta Capital LLC purchased a new stake in Hillenbrand during the 2nd quarter worth approximately $93,000. 89.09% of the stock is currently owned by hedge funds and other institutional investors.

Hillenbrand Stock Performance

HI stock opened at $31.85 on Tuesday. 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 cap of $2.24 billion, a P/E ratio of -10.83 and a beta of 1.38. Hillenbrand, Inc. has a 12-month low of $25.11 and a 12-month high of $50.58. The stock’s 50 day simple moving average is $27.91 and its 200 day simple moving average is $36.55.

Hillenbrand Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.2225 per share. This is a positive change from Hillenbrand’s previous quarterly dividend of $0.22. This represents a $0.89 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Monday, September 16th. Hillenbrand’s dividend payout ratio is currently -30.27%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HI shares. DA Davidson downgraded Hillenbrand from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $54.00 to $33.00 in a report on Monday, August 12th. StockNews.com upgraded Hillenbrand from a “sell” rating to a “hold” rating in a report on Friday, September 6th. 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’s stock. According to MarketBeat.com, the stock currently 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.