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

Hillman Solutions Corp. (NASDAQ:HLMN)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $8.39, but opened at $7.81. Hillman Solutions shares last traded at $8.1020, with a volume of 238,413 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on HLMN shares. Barclays lowered their price objective on shares of Hillman Solutions from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday. Canaccord Genuity Group reduced their target price on shares of Hillman Solutions from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. Weiss Ratings raised shares of Hillman Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 29th. Jefferies Financial Group raised shares of Hillman Solutions to a “strong-buy” rating in a research note on Thursday, September 10th. Finally, Raymond James Financial lowered shares of Hillman Solutions from an “outperform” rating to a “hold” rating in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Hillman Solutions Stock Down 2.8%

The company has a market capitalization of $1.66 billion, a P/E ratio of 65.62, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.87, a current ratio of 2.71 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $7.35 and a 200-day simple moving average of $8.12.

Hillman Solutions (NASDAQ:HLMN) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $457.49 million during the quarter, compared to analysts’ expectations of $462.10 million. Hillman Solutions had a net margin of 1.48% and a return on equity of 9.05%. On average, equities research analysts expect that Hillman Solutions Corp. will post 0.60 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert O. Kraft bought 35,500 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average cost of $7.00 per share, for a total transaction of $248,500.00. Following the completion of the acquisition, the chief financial officer owned 697,090 shares in the company, valued at approximately $4,879,630. This represents a 5.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Amanda Kitzberger sold 13,750 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $7.25, for a total transaction of $99,687.50. Following the sale, the insider directly owned 58,855 shares in the company, valued at $426,698.75. This trade represents a 18.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Hillman Solutions

A number of large investors have recently added to or reduced their stakes in the company. Riverbridge Partners LLC raised its position in shares of Hillman Solutions by 2.3% in the third quarter. Riverbridge Partners LLC now owns 1,231,137 shares of the company’s stock valued at $8,606,000 after purchasing an additional 28,145 shares during the period. Fulcrum Asset Management LLP bought a new stake in shares of Hillman Solutions during the 3rd quarter worth about $174,000. CenterBook Partners LP bought a new stake in shares of Hillman Solutions during the 3rd quarter worth about $263,000. Commonwealth Equity Services LLC bought a new stake in shares of Hillman Solutions during the 3rd quarter worth about $136,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Hillman Solutions in the 3rd quarter valued at about $122,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

About Hillman Solutions

Hillman Solutions Corp. (NASDAQ:HLMN) provides hardware products and related merchandising solutions to home improvement centers, mass merchants, hardware stores and other retailers. Its product offerings include house and vehicle keys, key duplication services, key accessories, fasteners, wall-hanging hardware, identification products, engravable tags and other everyday hardware items.

The company also operates automated key-copying kiosks through its MinuteKey business and supplies in-store fixtures, displays and inventory-management services designed to help retailers merchandise and replenish hardware products.