Madison Asset Management LLC, a prominent investment firm, has announced an increase in its stake in Hillman Solutions Corp. According to the company’s recent disclosure with the Securities & Exchange Commission, Madison Asset Management has raised its ownership of Hillman Solutions Corp by 6.7% during the first quarter of this year.
With this additional investment, Madison Asset Management now holds a total of 514,183 shares of Hillman Solutions Corp, following the acquisition of 32,478 shares in the first quarter. This significant increase in stake demonstrates Madison Asset Management’s confidence in the company’s growth potential and long-term prospects. At the end of the most recent quarter, these shares were valued at approximately $4.3 million, representing about 0.26% of Hillman Solutions’ overall worth.
Established in 1964 and based in Cincinnati, Ohio, Hillman is a leading provider of comprehensive hardware solutions across North America. The company prides itself on delivering exceptional customer service to over 40,000 locations and specializes in designing innovative product and merchandising solutions for various industries.
Hillman caters to a wide array of customers, including home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, as well as OEM & Industrial customers. Its commitment to outstanding customer experience has cemented its reputation as an industry leader.
Shares of Hillman Solutions stock commenced trading at $9.57 on Friday. The company maintains a healthy financial position with a debt-to-equity ratio of 0.77 and robust liquidity ratios such as a current ratio of 2.87 and a quick ratio of 0.84.
Over the past year, Hillman Solutions’ stock experienced fluctuation between a low of $6.59 and a high of $10.65 per share—highlighting both potential risks and rewards associated with investing in this market.
As for its market value, Hillman Solutions Corp commands a market capitalization of approximately $1.86 billion—a testament to its position as a significant player in the industry. The company’s price-to-earnings ratio currently stands at -73.62, reflecting unique market conditions and factors that contribute to its financial performance. Additionally, Hillman Solutions Corp has a beta of 1.55, indicating its sensitivity to market movements.
Taking into consideration recent stock trends, Hillman Solutions’ 50-day moving average price comes in at $8.58, while the 200-day moving average sits slightly lower at $8.49.
Madison Asset Management’s decision to increase its stake in Hillman Solutions Corp reflects their belief in the company’s future growth potential and demonstrates their dedication to maximizing returns for their investors.
It is worth highlighting that this article refers to information up until July 14, 2023, ensuring the content remains relevant and up-to-date within financial circles. As developments unfold within the Wall Street arena and companies like Hillman Solutions continue to navigate an ever-changing market landscape, stakeholders eagerly await further updates on Madison Asset Management’s investment strategy and the subsequent impact on Hillman Solutions’ stock performance.
Ultimately, with Madison Asset Management’s increased stake in Hillman Solutions Corp, it becomes evident that both entities share a mutual vision for long-term success and prosperity within the highly competitive hardware solutions industry.
Hillman Solutions Corp.
HLMN
Buy
Updated on: 14/07/2023
Hillman Solutions Corp Attracts Attention from Hedge Funds and Analysts, Demonstrating Growth Potential
Hillman Solutions Corp, a leading North American provider of complete hardware solutions, has recently attracted the attention of several hedge funds and institutional investors. These investors have made changes to their positions in Hillman Solutions, indicating a growing interest in the company.
One notable investor is Allspring Global Investments Holdings LLC, which increased its position in Hillman Solutions by 7.5% during the fourth quarter. Allspring now owns 2,842,442 shares of the company’s stock valued at $20,494,000 after purchasing an additional 197,488 shares. Similarly, Neuberger Berman Group LLC lifted its position in Hillman Solutions by 8.0% during the same period, acquiring an additional 352,778 shares.
Wealth Alliance and Trust Investment Advisors also acquired stakes in Hillman Solutions during the fourth quarter. Wealth Alliance obtained a new stake valued at approximately $96,000 while Trust Investment Advisors acquired one worth about $90,000.
In another move indicating confidence in the company’s performance, Reinhart Partners Inc. increased its position in Hillman Solutions by 5.4% during the first quarter. With this addition of shares amounting to approximately 289,629 units, Reinhart Partners Inc.’s total ownership now stands at 5,645,572 shares valued at $47,536,000.
Equities research analysts have also taken note of Hillman Solutions’ potential. Imperial Capital initiated coverage on the stock with an “outperform” rating and a price objective of $10.25 per share in May last year. This positive sentiment toward the company was echoed by Canaccord Genuity Group who rated it as a “buy,” setting a price target of $12.00 per share.
With five research analysts giving it a buy rating overall and Bloomberg.com reporting an average rating for Hillman Solutions as “Buy,” there seems to be consensus among analysts regarding the company’s prospects. The average price target for the stock is currently estimated to be $11.46.
Established in 1964 and headquartered in Cincinnati, Ohio, Hillman Solutions has built a reputation as an industry leader in hardware solutions. Operating with a focus on delivering exceptional customer service, the company serves over 40,000 locations across North America.
Hillman Solutions specializes in designing innovative product and merchandising solutions for complex categories. Its offerings cater to various markets, including home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers. By providing an outstanding customer experience, Hillman Solutions has maintained its position as a trusted partner in the industry.
Recent earnings data from Hillman Solutions reflects positive growth. In the company’s quarterly report for May 9th of this year, Hillman Solutions reported earnings per share (EPS) of $0.06 for the quarter. This surpassed the consensus estimate of $0.01 by $0.05 per share.
Additionally, Hillman Solutions demonstrated a positive return on equity of 6.56% despite a negative net margin of 1.61%. The firm recorded revenue of $349.71 million during the quarter against a consensus estimate of $356.85 million. While there was a decline in revenue compared to the same period last year (down 3.7%), sell-side analysts predict that Hillman Solutions will post an EPS of 0.38 for the current fiscal year.
In further news related to Hillman Solutions’ recent activities, Director Philip Woodlief made a noteworthy acquisition by purchasing 10,000 shares of stock on May 18th at an average cost of $7.91 per share – totaling approximately $79,100 worth of shares. This purchase reflects Woodlief’s increasing confidence in the future prospects of Hillman Solutions Corp.
As we analyze these recent developments, it becomes clear that Hillman Solutions has garnered significant attention from both investors and analysts. The continued interest in the company is indicative of its strong position in the market and potential for future growth. With an established track record of delivering hardware solutions, coupled with a commitment to exceptional customer service, Hillman Solutions is well-positioned to capitalize on opportunities within the industry.
