Channing Capital Management Lowers stake in Hillenbrand (HI)

Hillenbrand (HI) : Channing Capital Management reduced its stake in Hillenbrand by 0.92% during the most recent quarter end. The investment management company now holds a total of 1,298,671 shares of Hillenbrand which is valued at $40,583,469 after selling 12,098 shares in Hillenbrand , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Hillenbrand makes up approximately 1.63% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , Clark Estates Incny sold out all of its stake in HI during the most recent quarter. The investment firm sold 94,600 shares of HI which is valued $2,956,250.Ls Investment Advisors boosted its stake in HI in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 2,318 shares of Hillenbrand which is valued at $74,640.Cutler Group Lp reduced its stake in HI by selling 100 shares or 8.04% in the most recent quarter. The Hedge Fund company now holds 1,144 shares of HI which is valued at $36,631.

Hillenbrand opened for trading at $32.3 and hit $33.165 on the upside on Thursday, eventually ending the session at $31.75, with a gain of 1.60% or 0.5 points. The heightened volatility saw the trading volume jump to 9,59,931 shares. Company has a market cap of $2,001 M.

On the company’s financial health, Hillenbrand reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.52. The company had revenue of $371.00 million for the quarter, compared to analysts expectations of $406.70 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.52 EPS.

Hillenbrand Inc. is a global diversified industrial company that makes and sells business-to-business products and services for a variety of industries. The Company has two segments: the Process Equipment Group and Batesville. The Process Equipment Group has multiple brands of process and material handling equipment and systems serving a variety of industries worldwide. The Process Equipment Group product portfolio includes products and services for compounding extrusion and material handling; crushing and sizing and screening and separating. Batesville is engaged in the North American death care industry where it has been designing manufacturing distributing and selling funeral service products and solutions.

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