batesville casket stock

batesville casket stock

Guided by our Purpose Shape What Matters For Tomorrow we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. In Stock. All quotes are in local exchange time. Its stock was trading at around $17 early this week, below its $19.39 on Jan. 28 but above the $16.68 where it started the year. Hillenbrand Inc. has reached an agreement to sell its Batesville Casket Co. subsidiary to an affiliate of a Connecticut-based private equity firm for $761.5 million. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. Coffin. Join the thousands of business and community leaders and Indiana residents that choose IBJ as their primary local news source. However, when asked about the long-term shift towards cremation (as peers have been), this topic is never fully explored, and the management highlighted a slight decrease in the revenues was due to an increase in families opting for cremation. The forward-looking information in this release speaks only as of the date hereof, and we assume no obligation to update or revise any forward-looking information. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. Stamford, Connecticut-based LongRange Capital was founded in 2019 by Bob Berlin and invests in a range of consumer, industrial, and information and technology companies. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. Hillenbrand Inc. said Thursday it has agreed to sell its Batesville casket and other funeral products business to an affiliate of private equity firm, LongRange Capital, for $761.5 million, including an $11.5 million sub- Hillenbrand Inc. swung to a loss in its fiscal fourth quarter as expenses grew, but sales surged due to its acquisition of Milacron Holdings Corp. Batesville is committed to creating products that help families find healing and build a stronger future for funeral professionals and the death care industry. Opens in a new window. HI Total Shareholder Return (TSR) Vs. Peers & Index. Likewise, HIs debt at the time was around 4x and would have presented a challenging split. In . Any number of factors, many of which are beyond our control, could cause our performance to differ significantly from what is described in the forward-looking statements. First nationwide distribution system, allowing the fast, reliable delivery across the country. 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(NYSE: HI) announced today that it has entered into a definitive agreement to sell its Batesville business segment to an affiliate of private equity firm, LongRange Capital, for $761.5 million, which includes an $11.5 million sub-note. We will remain focused on serving our customers and look forward to working with LongRange Capital as our partner, and with Hillenbrand to ensure a smooth transition for our associates, Chris Trainor, president of Batesville Casket said in a written statement. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. Add to Cart. Cookie Notice (). 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Initially, the Batesville Casket business was the only segment, contributing to 100% of the business. Cremation. BRUSHED BRONZE PROMETHEAN, 48OZ. However, trends toward cremation were slowly shrinking sales. After HIs biggest acquisition of Milacron in March 2020, the companys debt was around 4x and therefore why we mentioned this higher leverage would have presented a challenge for a break-up at the time. Batesville Casket Company is looking for a Maintenance Associate (2nd shift) to join our team in Batesville, IN. As longer-term oriented investors with an operational focus and significant carve-out experience, we look forward to partnering with the Batesville management team and its dedicated associates in further supporting the business for many years to come, Berlin said in written remarks. Cremation, meanwhile, has been eating into casket sales. The negative consequences of having an out-of-state investment company as the owner of the Casket Co. operations does not equate to a long-term commitment nor short-term stability. -- Hillenbrand Inc. said Thursday that it has reached an agreement to sell its Batesville Casket Co. subsidiary the largest producer of caskets in the U.S. to an affiliate of a Connecticut-based private equity firm for $761.5 million. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Recognizing a shift in consumer trends, Batesville launches fully tested and warranted oversize caskets. BATESVILLE, Ind. This would lead to a market cap of around $1.6 billion for BATES and a $1.7 billion Market Cap for the RemainCo (with a favorable leverage of 1.4x). LifeStories caskets and medallions are added to the product offering, increasing the range of options for personalizing Batesville caskets. It grew to become the largest producer of caskets in the nation and its shiny gold Promethean casket has often been spotted at celebrity burials, including for superstars Michael Jackson, Aretha Franklin and James Brown. have continued to progress with the transition away from just selling caskets in the death care business to becoming a large diversified industrial company. We make the industrial equipment that molds possibilities for our future and delivers what's essential to sustain our tomorrow. Paralegal. Every day the world lives, works, plays, travels, eats, and heals because of what we do at Hillenbrand. The home health sector is one of the canaries in the coal mine of the effects of an aging population. When it comes eldercare, help is wanted but workers are scarce. You may opt-out by. Alaskas arduous Iditarod kicks off with ceremonial start. Were being punished after I remarried. Batesville Casket may also be known as or be related to Batesville Casket, Batesville Casket Co, Batesville Casket Company and Batesville Casket Inc. Zippia. It is a broker that is regulated by the Securities and Exchange Commission. However, coffins having a one-piece side with a curve at the shoulder instead of a join are more commonly used in the United Kingdom (UK). It is a broker that is regulated by the Securities and Exchange Commission. It had sales of about $50 million a year and was growing between 7 and 10 percent a year, according to Indiana Business. ET by Steve Gelsi Hillenbrand Sells Batesville Casket Business for $761.5 Million Dec. 15, 2022. As of September, the company reported it had 11,000 employees globally, with 3,800 of them in the United States. One company that came across our radar two years ago was Hilllenbrand (HI), currently trading at $45 a share. The next major story for Hillenbrand will be moving their HQ location out of the state. Upon completion of Hillenbrand's divestiture of its Batesville business, Hillenbrand and Batesville will both remain headquartered in Batesville, Indiana. As humans, we find death a difficult topic as it brings up a lot of feelings of anxiety, fear and awkwardness. Net proceeds from the sale are expected to be used for debt reduction. The business it has that sticks out like a sore thumb and that doesn't fit with the rest of the company is its Batesville business, which is involved in the manufacturing and sale of funeral service products, including burial and cremation caskets, cremation containers and urns, other personalization and memorialization products and technology applications for funeral homes. Lowest price guaranteed. Add To Cart. Caskets. Agree with Rich M., hope Im wrong but this was not a good day for the city of Batesville. "We look forward to building upon our track record of performance, enabled by consistent deployment of the Hillenbrand Operating Model to drive profitable growth and deliver long-term value to our shareholders. 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"Completing our transformation into a pure-play industrial company allows Hillenbrand to concentrate our investments into our APS and MTS segments, where we see strong growth potential," said Kim Ryan, President and Chief Executive Officer of Hillenbrand. Thats not to say that there arent many problems with the city. The following is all from our March 31, 2022, report with some recent updates and is available on request. Log in to see them here or sign up to get started. The company owns its current headquarters building, filings state. 1918 Continuing to innovate in casket design, the company introduces the original gasketed casket and first safety-sealed hardware. What do we do? Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. The ladies in the front office are very helpful. Hillenbrands move would result in it selling off the casket-making business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884. Batesville is a great company with some amazing people however management turns the blind eye. Help relatives and loved ones properly grieve their loss. Hillenbrand upgraded to buy from neutral at Sidoti & Co. Hillenbrand downgraded to neutral from buy at Sidoti & Co. Hillenbrand Inc. stock rises Friday, still underperforms market, Hillenbrand Inc. stock outperforms competitors on strong trading day, Hillenbrand Inc. stock outperforms market on strong trading day, Hillenbrand Inc. stock rises Tuesday, outperforms market, Hillenbrand sells casket business Batesville to LongRange Capital, Hillenbrand Sells Batesville Casket Business for $761.5 Million, Coronavirus Is Slamming Funeral-Services Stocks Too, Hillenbrand downgraded to 'junk' territory at Fitch, Weighing Hillenbrands Deal to Acquire Milacron, S&P 500, Dow, Nasdaq close at record levels again as bulls bank on Fed rate cut, Milacron's stock soars after Hillenbrand buyout deal valued at $2 billion, McDonald's and the Olympics end partnership, Hillenbrand's Return On Capital Employed Overview, 3 Industrial Stocks You'll Wish You Bought Sooner, 3 Manufacturing Stocks You Should Be Focused on in 2023. About Us; Feb 27, 2023 (The Expresswire) -- Report Insights: The Global Cremation Caskets market is valued at USD million in 2020 is expected to reach USD million by the end of 2026, growing at a CAGR . Batesville Coffin Company is founded in Batesville, Indiana. The Molding Technology Solutions segment includes engineered and customized equipment, systems, and services in plastic technology and processing. John A. Hillenbrand and associates pose at the Batesville facility (via Batesville) Starting in the 1860s, a German immigrant began quietly acquiring these small casket brands in a bid to consolidate the market. The move away from HIs 100+ year old legacy death/burial business first began after a string of acquisitions starting in 2010. Something went wrong while loading Watchlist. A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. With a stock market that has taken a bashing, companies need to think of their shareholders as the economy tightens its belt and further consider how they are going to offer value for the holders of their stock. Thats why I wanted to ask that question, because its a city with a population of 30,000 people, but still manages to have a rich history, and one of the oldest banks in the state. Matthews International ", "Batesville is a strong business with passionate associates who are committed to our customers and our mission of helping families honor the lives of those they love," said Chris Trainor, President of Batesville.

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