Hillman Solutions (NASDAQ:HLMN) Shares Gap Down Following Weak Earnings

Hillman Solutions Corp (NASDAQ:HLMN)’s stock price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $10.36, but opened at $9.61. Hillman Solutions shares last traded at $9.59, with a volume of 207,537 shares changing hands.

The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Hillman Solutions had a net margin of 0.57% and a return on equity of 8.81%. The company had revenue of $349.56 million for the quarter, compared to the consensus estimate of $350.45 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share.

Analyst Upgrades and Downgrades

HLMN has been the subject of several research analyst reports. Barclays dropped their target price on shares of Hillman Solutions from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Benchmark reiterated a “buy” rating and set a $16.00 target price on shares of Hillman Solutions in a research report on Wednesday. William Blair downgraded shares of Hillman Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Robert W. Baird decreased their price target on shares of Hillman Solutions from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Hillman Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Insiders Place Their Bets

In related news, Director Philip Woodlief sold 19,779 shares of Hillman Solutions stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.18, for a total value of $221,129.22. Following the transaction, the director now directly owns 55,811 shares of the company’s stock, valued at $623,966.98. The trade was a 26.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Hillman Solutions by 4.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 23,330 shares of the company’s stock worth $227,000 after buying an additional 1,061 shares during the period. Xponance Inc. increased its position in Hillman Solutions by 10.1% during the 4th quarter. Xponance Inc. now owns 14,106 shares of the company’s stock valued at $137,000 after purchasing an additional 1,297 shares during the period. Cetera Investment Advisers increased its position in Hillman Solutions by 4.1% during the 4th quarter. Cetera Investment Advisers now owns 33,743 shares of the company’s stock valued at $329,000 after purchasing an additional 1,325 shares during the period. HighTower Advisors LLC increased its position in Hillman Solutions by 1.1% during the 4th quarter. HighTower Advisors LLC now owns 144,163 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,562 shares during the period. Finally, First Horizon Advisors Inc. increased its position in Hillman Solutions by 231.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,317 shares of the company’s stock valued at $35,000 after purchasing an additional 2,317 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

Hillman Solutions Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 2.32. The stock’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $10.25. The firm has a market capitalization of $2.01 billion, a PE ratio of 256.06 and a beta of 1.68.

About Hillman Solutions

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.