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Privacy Notice | HI Stock Quote Volume Open Day's Low Day's High 52 Wk Low 52 Wk High Bid Ask EPS PE Ratio Shares Market Cap Dividend Ex-Div Date Yield 1 day 5 days 10 days 1 month 3 months 6 months 1 year Subscriber Agreement & Terms of Use | Editor's note: You can comment on IBJ stories by signing in to your IBJ account. 1918 Continuing to innovate in casket design, the company introduces the original gasketed casket and first safety-sealed hardware. With industry-leading brands in its Advanced Process Solutions (APS) and Molding Technology Solutions (MTS) segments, Hillenbrand is well-positioned to accelerate long-term growth in attractive end markets including plastics, food, and recycling, all of which are expected to benefit from secular macroeconomic growth trends. All rights reserved. Batesville Casket Company is owned by Hillenbrand . One of the biggest is that theres a lot of debt. Log in to see them here or sign up to get started. So many people dont want a casket anymore. Please call to confirm delivery date. Batesville Casket Company, Inc. manufactures metal and hardwood burial caskets. A flexible dual overlay is introduced, marking a continued focus on innovation and personalization. We believe the correct route for them is to Spinoff the business to existing shareholders to maximize value. EPS from cont ops guidance, Hillenbrand Reports Fiscal First Quarter 2023 Results; Fiscal 2023 Guidance Updated to Reflect Batesville Sale, Hillenbrand is about to announce its earnings here's what to expect, Registration on or use of this site constitutes acceptance of our. First nationwide distribution system, allowing the fast, reliable delivery across the country. Hillenbrand said it agreed to sell Batesville Casket to a LongRange Capital affiliate so it can focus on its strategic move toward long-term growth in attractive markets such as plastics, food and recycling. 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. It is a broker that is regulated by the Securities and Exchange Commission. But Hillenbrand said that both it and Batesville Casket would continue to be headquartered in Batesville, an Indiana community about 60 miles (80 kilometers) southeast of Indianapolis. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand's expectations and projections. This browser is no longer supported at MarketWatch. Help relatives and loved ones properly grieve their loss. There are also a lot of poor people living there. Listing for: Batesville Casket Company. Both firms made the announcement Thursday morning and noted the total enterprise value of the acquisition is $12.4 billion, which includes debt assumption. Sapphire (021) - $5,025.00. Job specializations: Law/Legal. Add to Cart. Aurora had 600 employees, up from 400 a decade earlier. A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. Evercore acted as a financial advisor for Hillenbrand for this transaction, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel. For more than a century, Batesville has supported licensed funeral professionals in helping families honor the lives of those they love. A history of manufacturing excellence, product innovation, superior customer service and reliable delivery helped Batesville become and remain an industry leader. Batesville ( www.Batesville.com ), a wholly owned subsidiary of Hillenbrand, Inc. (NYSE: HI ), is a recognized leader in the death care industry in North America, offering a comprehensive. For example, police and fire departments, as well as a lot of health care costs. It is a broker that is regulated by the Securities and Exchange Commission. batesville is a broker that sells shares of stock on a stock exchange. We deliver innovative products and solutions that make a difference in the lives of families and matter to the funeral industry. Hillenbrand and Batesville intend to keep their headquarters in Greater Cincinnati. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Will fit into a standard outer burial container. Create a list of the investments you want to track. Batesville Casket Company TCC - Thacker Casket Co mpany TGL - Triangle Casket Co mpany WLW - Watts Line of Woods WRC - Warfield -Rohr Casket Company - Denotes that casket is located in selection room. (KBAL) since January 2014, which performed a Spin of its Electronic Manufacturing Services business called Kimball Electronics, Inc. (KE) on November 3, 2014. "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. However, trends toward cremation were slowly shrinking sales. I feel very hurt: My late wifes parents cut me out of their will and reduced my daughters inheritance. Visit a quote page and your recently viewed tickers will be displayed here. In March 2020, HI was a $1.4 billion Market Cap ($3.1 billion EV) company. Our one-year Base case target price is $67.36 for HI, implying a potential upside of +45% from the current share price of $46.57. Batesville Casket may also be known as or be related to Batesville Casket, Batesville Casket Co, Batesville Casket Company and Batesville Casket Inc. Zippia. Warehouse Associate- (full-time) Columbus, Ohio, USA. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. Founded in 1884, Batesville has a long track record of creating and delivering quality funeral products and solutions. Market Cap Scenario of Split Based on March 2020 Revenue Contribution. 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. 24/7 coverage of breaking news and live events. LongRange's acquisition of Batesville, from Hillenbrand, Inc. (NYSE: HI), a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other. Peers SCI and CSV are expected to make around 30% and 33%, respectively, owing to their revenue mix. Back in 2020, while the minimum market capitalization restrictions would have been lower than what it is today in order for both the RemainCo and the SpinCo to remain in the S&P SmallCap 600 Index to prevent any near-term index selling pressure, other complications surrounding its debt would have arisen. batesville is a stock broker that sells shares of stock on a stock exchange. 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. 1971: Hillenbrand Industries completes its initial public offe ring of stock. View Products For Families Find grief support and guidance on planning a funeral. If we assume management decides to assign enough debt on BATES that the leverage trades in-line with peers (around 3.7x), this requires a debt distribution in the ratio of 51%-49% for Advanced Process Solutions & Molding Tech Solutions and BATES, respectively. Swing bar hardware is introduced on Batesville caskets. LongRange Capital was founded in 2019 by Bob Berlin and invests in a range of consumer, industrial and information and technology companies. The announcement of the deal with an affiliate of LongRange Capital provided no . Hillenbrand split Hill-Rom into a separate publicly traded company in 2008. They have favorites that can do as they please, walk around or just hide. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. If the management wanted to shift debt in such a proportion to allow Batesville to remain a part of the SmallCap Index, it would have required a 42% distribution of debt, which would have led to a higher leverage of 6.2x for Batesville, making it even less appealing for investors as a standalone company, Market Cap Scenario of Split Based on February 2022 Estimated Revenue Contribution. This was made clear in HIs most recent transcript (Feb 3, 2022), where the management said that our next strategic pillar is to manage Batesville for cash.. Batesville Caskets for Sale | Funeral Home Caskets 85% off! For more than 115 years, Batesville has crafted products that make funerals truly meaningful - helping families honor the lives of those they love . She was a board member of Kimball International If HIs stock price hadnt doubled, there would have been a risk that the market cap size for Batesville would have been too small and been kicked out of the SmallCap 600 Index, and shareholders would have incurred index selling pressure. Cookie Notice (). The Batesville segment is involved in the death care industry. Batesville Casket's parent company, Hillenbrand Industries, reported Fiscal Year 2021 and FY 4th Quarter 2021 results last week. Our passion has never been stronger to lead the industry with positive changes that enhance funeral service. BATESVILLE, Ind. Cremation is the combustion, vaporization, and oxidation of cadavers to basic chemical compounds, such as gases, ashes and mineral fragments retaining the appearance of dry bone. Furthermore, the management has proudly highlighted they have been able to achieve a 100% FCF conversion rate over the past decade, which shows both BATES and the remaining HI business (Advance Process & Molding Technology Solutions) are high free cash flow generating divisions. 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, Hillenbrand CEO Kim Ryan said in written remarks.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.. Hillenbrand has a direct presence in 3 countries. Batesville, Indiana 47006 Phone 1 812 934-7000 Industry Industrial Machinery Sector Industrial Goods Fiscal Year-end 01/0002 Revenue $2.94B Net Income $208.9M 2022 Sales Growth N/A Employees N/A. Join us for an evening of networking designed especially for real estate professionals. Over the last two years, the management at Hillenbrand The 125-year-old company currently builds metal and wood caskets at five plants in the United States and Mexico. Matthews International They pivoted back in like 2008 if you buy an Urn in Indiana it is likely from them as well, Do they still have medical division, they use to have 70% of the hospital bed market. Whether youre a broker, developer, or serve the real estate industry, youre invited to a night of mixing + mingling. According to a release, LongRange's purchase of Batesville is expected to close in the first quarter of 2023. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. The word took two different paths, cofin in Old French originally meaning basket, became coffin in English and became couffin in modern French which nowadays means a cradle. The Company offers cremation urns, containers, and other related products. In 2019, Hillenbrand officials told IBJ that Batesville Casket accounted for about one-quarter of the corporations sales and 40% of its cash flow. 7. As humans, we find death a difficult topic as it brings up a lot of feelings of anxiety, fear and awkwardness. The move away from HIs 100+ year old legacy death/burial business first began after a string of acquisitions starting in 2010. Subscriber Agreement & Terms of Use | In Stock. and KeyBanc Capital Markets. Fixed pii_email_4bd3f6cbbb12ef19daea Error, The Way to Repair Outlook pii_email_11fe1b3b7ddac37a081f Error Code, Personally identifiable information PII doesnt belong in your email University Information Technology The University of Utah, pii_email_37f47c404649338129d6 Error Is Solved Now, Emailing PII :: Administrative Department :: USNA. Baxter bought Hill-Rom in 2021. 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). WOODBRIDGE PECAN/146799 CWPNBACMBQ / Batesville $5,299 Solid pecan casket with a medium stained, satin finished exterior and champagne velvet interior. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. Batesville Casket Company website. Here is the key point: Forward-looking statements are not guarantees of future performance or events, and actual results or events could differ materially from those set forth in any forward-looking statements. 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. Will His AI Plans Be Any Different? A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. There is a new CEO on board after the previous CEO of HI was there for the last eight years and with the company for 27 years. From 2020 to 2021, HIs stock price went from as low as $14.29 (March 18, 2020) to over $45 by the end of February 2021. 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. Round end shell design. Aegean Bronze (203) - $5,300.00. . The stock you're looking for is called "Batesville Casket Company," and it is a stock broker that sells shares of stock on a stock exchange. Casket manufacturers in the USA Batesville Casket Company Batesville Casket Company is owned by Hillenbrand Inc. Headquartered in Batesville, Indiana, with estimated annual revenues of $553 million. A coffin about to be lowered at a funeral service in a cemetery. Nominate a company for IBJs exclusive ranking of fastest-growing privately held companies by March 1st. BATESVILLE, Ind. Log in to see them here or sign up to get started. All quotes are in local exchange time. For the best MarketWatch.com experience, please update to a modern browser. Greenberg Traurig, LLP acted as legal counsel to LongRange. Sort by: Aegean Bronze . You may opt-out by. KE jumped +128% in its first year from the Spinoff, so Ms. Ryan has seen first-hand and can appreciate the value creation potential following a break-up. When completed, this divestiture, coupled with the strategic acquisitionsof LINXIS Group, Herbold Meckesheim, Peerless Food Equipment, and Gabler Engineering in 2022, will mark a significant milestone in Hillenbrand's transformation, establishing Hillenbrand as a global industrial leader in highly engineered, mission-critical processing solutions. Antique Blue . BATESVILLE, IN Hospital bed and patient-monitoring device manufacturer Hill-Rom Holdings Inc. is being purchased by medical tech firm Baxter International in a blockbuster $10.5 billion cash deal, or $156 a share.. Hillenbrand seems an obvious candidate for hidden value release. Alaskas arduous Iditarod kicks off with ceremonial start. Furthermore, the split would have led to Batesville leaving the S&P SmallCap 600 in March 2020 as the criteria for inclusion required a minimum market cap of $600 million to remain in the SmallCap Index. We create opportunities to help families understand the value of meaningful funerals and honoring their loved ones with a personalized tribute. Employers, Weve Got You Covered! 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. LongRange's acquisition of Batesville, from Hillenbrand, Inc. , a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other customary . Batesville is a city with a rich history, but like most of the places on this list, its a city that does a lot of the same things, from a very simple structure to a very complex structure. . Batesville Coffin Company is founded in Batesville, Indiana. Now, using the stable and predictable cashflow from BATES, the debt has been brought down to about 1.5x as of Q1 2022. The announcement of the deal with an affiliate of LongRange Capital provided no guidance on what impact the sale might have on Batesville Casket, its . Visit a quote page and your recently viewed tickers will be displayed here. I feel very hurt: My late wifes parents cut me out of their will and reduced my daughters inheritance. The Batesville segment is involved in the death care industry. Therefore, the SpinCo (suggested ticker BATES) is in a much better state to be listed today, creating a pure-play, high free cashflow generating business. 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. Cremation. Founded in 1884, Batesville (commonly referred to as the . HIs new and current CEO (as of January 1, 2022) is Kimberly K. Ryan. Founded in 1884 as the Batesville Coffin Company, Batesville was purchased by John A. Hillenbrand in 1906, when it became the Batesville Casket Company. Batesville begins manufacturing metal caskets. Our Batesville Caskets . batesville is a stock broker that sells shares of stock on a stock exchange. Caskets, Urns & Keepsakes - Batesville Celebrating lives. Hillenbrand had announced on July20, 2022, that its Board of Directors had initiated a process to explore strategic alternatives for its Batesville business. There are currently no items in this Watchlist. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. There are currently no items in this Watchlist. However, if we adjust the debt distribution to allow BATES to remain in the S&P SmallCap 600, the below table is the ideal debt distribution scenario: S&P SmallCap 600 Index Inclusion Scenario. As a result, some of the services that Batesville has provided over the years are now needed by the city, and not just the city. Lilac Silver 18 Gauge Steel Casket $ 1,795.00 Athena Rose - 18 Gauge Steel Casket $ 1,595.00 White Cross 18 Gauge Steel Casket $ 1,595.00 Princeton 18 Gauge Steel Premium Casket $ 1,495.00 Spruce 18 Gauge Steel Casket $ 1,495.00 Royal Ebony 18 Gauge Steel Casket $ 1,595.00 Noble Blue Brush 18 Gauge Steel Casket $ 1,795.00 BATESVILLE, Ind. Thats not to say that there arent many problems with the city. Here at The Edge, we to seek out untapped shareholder value as well as underperforming companies for Activist investors. Over the years, weve fulfilled Hillenbrands vision to create the finest funeral products. The company offers a wide selection of burial and cremation products, keepsakes, and business and technology solutions that serve the needs of families and licensed funeral professionals across North America. 1940 The Memorial Record system allows caskets to be sensitively identified after disaster. 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. . Ms. Ryan has been on the board of a company that previously performed a Spinoff. It was the first company to develop and mass-produce steel caskets. Copyright 2023 MarketWatch, Inc. All rights reserved. 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. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussion under the heading "Risk Factors" in Part I, Item 1A of Hillenbrand's Form 10-K for the year ended September 30, 2022, filed with the Securities and Exchange Commission ("SEC") on November 16, 2022. View original content to download multimedia:https://www.prnewswire.com/news-releases/hillenbrand-announces-divestiture-of-batesville-casket-company-accelerating-transformation-301704086.html, Plus500. Coffin. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? One company that came across our radar two years ago was Hilllenbrand (HI), currently trading at $45 a share. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Joe A. Raver retired at the end of 2021. About Us; The deal is expected to close in the first quarter of 2023, provided it clears all regulatory hurdles. In essence, Batesville saw their margins drop to about 24.9% of sales " primarily due to inflation, including higher transportation premiums, and the impact of lower volume, which more than offset the impact of higher average selling . It was. More info / Customize. The city has a very large bureaucracy, and it has a very large amount of money. Historical and current end-of-day data provided by FACTSET. Batesville Caskets provide the highest brand name quality caskets in the funeral and cremation industry. Every day the world lives, works, plays, travels, eats, and heals because of what we do at Hillenbrand. While Batesville provides a range of burial solutions and cremation options, the bulk of its revenue derives from the sale of caskets. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. The company launches its Options cremation line. 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. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. 2021-22 Hoosiers Talk About Why Indiana is a Great Place for Your Career, 2020-21 Todays College Students Older, Wiser, 2019-20 Former Indy 500 Driver Crosses College Finish Line, United places huge order with Boeing to replace aging planes, Lebanon votes to annex 5,225 acres for LEAP district, Hoosier manufacturers ramping up adoption of advanced technologies, report shows, As supply chains unclog, consumers enjoy (tentative) relief, Noblesville City Council approves incentives for $30M SMC expansion plan, Republic sues flight school students over deal for reduced tuition, Investors wary as Elanco pins hopes on new products, Robotics curriculum initiative targets younger, nonwhite kids. Hillenbrand said in a press release Thursday that the sale of the casket company coupled with its acquisitions of LINXIS Group, Herbold Meckesheim, Peerless Food Equipment, and Gabler Engineering will mark a significant milestone in the companys transformation, establishing Hillenbrand as a global industrial leader in highly engineered processing solutions and plastics molding. The firms investment professionals have a long track record of demonstrated success and collectively bring 50+ years of investing experience. batesville casket company stock includes essentials like mortuary equipment, funeral equipment, and even some affordable options . Pros. Batesville Casket traces its roots to 1884, when it was founded as the Batesville Coffin Co. John A Hillenbrand purchased the company in 1906 and renamed it the Batesville Casket Co. These factors include, but are not limited to: global market and economic conditions, including those related to the financial markets; the impact of contagious diseases such as the COVID-19 pandemic and the escalation thereof due to variant strains of the virus and the societal, governmental, and individual responses thereto, including supply chain disruption, loss of contracts and/or customers, erosion of some customers' credit quality, downgrades of the Company's credit quality, closure or temporary interruption of the Company's or its suppliers' manufacturing facilities, travel, shipping and logistical disruptions, domestic and international general economic conditions, such as inflation, exchange rates and interest rates, loss of human capital or personnel, and general economic calamities; risks related to the Russian Federation's invasion of Ukraine (referred to herein as the "Ukraine War") and resulting geopolitical instability and uncertainty, which could have a negative impact on our ability to sell to, ship products to, collect payments from, and support customers in certain regions, in addition to the potential effect of supply chain disruptions that could adversely affect profitability; the risk of business disruptions associated with information technology, cyber-attacks, or catastrophic losses affecting infrastructure; negative effects of the Linxis Group SAS ("Linxis") acquisition or other acquisitions on the Company's business, financial condition, results of operations and financial performance (including the ability of the Company to maintain relationships with its customers, suppliers and others with whom it does business); the possibility that the anticipated benefits from the Linxis acquisition and other acquisitions cannot be realized by the Company in full or at all or may take longer to realize than expected; risks that the integrations of Linxis or other acquired businesses disrupt current operations or pose potential difficulties in employee retention or otherwise affects financial or operating results; any failure to obtain, or delays in obtaining, required regulatory approvals or clearances for the Proposed Transaction; any failure by the parties to satisfy any of the other conditions to the Proposed Transaction; the possibility that the Proposed Transaction is ultimately not consummated; potential adverse effects of the announcement or results of the Proposed Transaction on the market price of the Company's common stock or on the ability of the Company to develop and maintain relationships with its personnel and customers, suppliers and others with whom it does business or otherwise on the Company's business, financial condition, results of operations and financial performance; risks related to diversion of management's attention from our ongoing business operations due to the Proposed Transaction; the impact of the Proposed Transaction on the ability of the Company to retain and hire key personnel; increasing competition for highly skilled and talented workers as well as labor shortages; our level of international sales and operations; the impact of incurring significant amounts of indebtedness and any inability of the Company to respond to changes in its business or make future desirable acquisitions; the ability of the Company to comply with financial or other covenants in debt agreements; cyclical demand for industrial capital goods; the ability to recognize the benefits of any acquisition or disposition, including potential synergies and cost savings or the failure of the Company or any acquired company to achieve its plans and objectives generally; impairment charges to goodwill and other identifiable intangible assets; competition in the industries in which we operate, including on price; impacts of decreases in demand or changes in technological advances, laws, or regulation on the revenues that we derive from the plastics industry; our reliance upon employees, agents, and business partners to comply with laws in many countries and jurisdictions; increased costs, poor quality, or unavailability of raw materials or certain outsourced services and supply chain disruptions; continued fluctuations in mortality rates and increased cremations; the dependence of our business units on relationships with several large customers and providers; competition faced by our Batesville business from non-traditional sources; the impact to the Company's effective tax rate of changes in the mix of earnings or tax laws and certain other tax-related matters; exposure to tax uncertainties and audits; involvement in claims, lawsuits and governmental proceedings related to operations; uncertainty in the United States political and regulatory environment or global trade policy; adverse foreign currency fluctuations; labor disruptions; and the effect of certain provisions of the Company's governing documents and Indiana law that could decrease the trading price of the Company's common stock.