Hillman Solutions (NASDAQ:HLMN) Shares Gap Down – Here’s Why

Hillman Solutions Corp (NASDAQ:HLMN) shares gapped down before the market opened on Thursday . The stock had previously closed at $9.74, but opened at $9.48. Hillman Solutions shares last traded at $9.64, with a volume of 90,041 shares.

Analyst Ratings Changes

A number of research firms have issued reports on HLMN. Robert W. Baird increased their price target on Hillman Solutions from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Benchmark raised their target price on shares of Hillman Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, December 13th. William Blair cut shares of Hillman Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday. Barclays raised their price objective on shares of Hillman Solutions from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hillman Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.20.

Hillman Solutions Stock Performance

The company has a current ratio of 2.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 239.56 and a beta of 1.65. The stock’s 50 day moving average is $10.73 and its two-hundred day moving average is $10.06.

Hillman Solutions (NASDAQ:HLMN) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Hillman Solutions had a return on equity of 8.81% and a net margin of 0.57%. The firm had revenue of $393.30 million for the quarter, compared to analysts’ expectations of $389.50 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts anticipate that Hillman Solutions Corp will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Scott Ride sold 72,523 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.66, for a total value of $773,095.18. Following the completion of the sale, the insider now directly owns 70,369 shares of the company’s stock, valued at $750,133.54. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip Woodlief sold 19,779 shares of Hillman Solutions stock in a transaction that occurred 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 completion of the sale, the director now owns 55,811 shares in the company, valued at approximately $623,966.98. This trade represents a 26.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Hillman Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC increased its holdings in Hillman Solutions by 1.5% in the third quarter. WCM Investment Management LLC now owns 3,275,837 shares of the company’s stock valued at $34,724,000 after buying an additional 49,306 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Hillman Solutions by 9.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 806,409 shares of the company’s stock valued at $7,137,000 after purchasing an additional 70,861 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Hillman Solutions by 131.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,611,051 shares of the company’s stock worth $17,013,000 after purchasing an additional 914,151 shares during the last quarter. Atria Investments Inc boosted its position in Hillman Solutions by 24.5% during the third quarter. Atria Investments Inc now owns 75,656 shares of the company’s stock worth $799,000 after purchasing an additional 14,904 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Hillman Solutions by 20.0% in the third quarter. Sanctuary Advisors LLC now owns 31,653 shares of the company’s stock valued at $357,000 after purchasing an additional 5,273 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.