12,073 Shares in HNI Corporation (NYSE:HNI) Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. acquired a new position in shares of HNI Corporation (NYSE:HNI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,073 shares of the business services provider's stock, valued at approximately $535,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HNI. Louisiana State Employees Retirement System increased its holdings in shares of HNI by 1.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,100 shares of the business services provider's stock worth $1,164,000 after buying an additional 300 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in HNI by 3.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 38,320 shares of the business services provider's stock valued at $1,930,000 after purchasing an additional 1,160 shares in the last quarter. Principal Financial Group Inc. increased its holdings in HNI by 4.9% in the 4th quarter. Principal Financial Group Inc. now owns 250,181 shares of the business services provider's stock valued at $12,602,000 after purchasing an additional 11,716 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in HNI by 12.3% in the 4th quarter. Handelsbanken Fonder AB now owns 10,926 shares of the business services provider's stock valued at $550,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in HNI by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider's stock valued at $31,646,000 after purchasing an additional 105,034 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on HNI. Longbow Research began coverage on HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price target for the company. Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Susquehanna began coverage on HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company.

Insiders Place Their Bets

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.07, for a total value of $67,780.80. Following the transaction, the insider now owns 36,711 shares of the company's stock, valued at approximately $1,727,986.77. This represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.37% of the stock is currently owned by corporate insiders.

HNI Stock Up 0.2%

NYSE:HNI traded up $0.09 on Wednesday, reaching $46.90. The stock had a trading volume of 280,739 shares, compared to its average volume of 310,563. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $45.11 and a 200 day moving average of $47.25. The stock has a market cap of $2.18 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. HNI had a net margin of 5.35% and a return on equity of 18.48%. The business had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. During the same quarter last year, the company posted $0.37 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 2.90%. This is a boost from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio (DPR) is currently 48.40%.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.