OMERS ADMINISTRATION Corp Buys Shares of 14,800 HNI Corporation $HNI

Key Points

• OMERS ADMINISTRATION Corp acquired a new position in HNI Corporation, purchasing 14,800 shares valued at approximately $656,000 during the first quarter.
• In the same timeframe, several hedge funds increased their stakes, with Jane Street Group LLC leading with a new investment of $10.3 million in HNI shares.
• HNI Corporation reported $1.11 earnings per share for its last quarter, surpassing analyst estimates and showing a 7% year-over-year revenue increase.

OMERS ADMINISTRATION Corp acquired a new position in HNI Corporation (NYSE:HNI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,800 shares of the business services provider's stock, valued at approximately $656,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new stake in HNI in the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its position in HNI by 88.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock worth $31,000 after purchasing an additional 331 shares during the last quarter. Allworth Financial LP grew its position in HNI by 3,984.9% in the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock worth $92,000 after purchasing an additional 2,112 shares during the last quarter. Harbour Investments Inc. acquired a new stake in HNI in the 1st quarter worth $107,000. Finally, Meeder Asset Management Inc. grew its position in HNI by 68.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,026 shares of the business services provider's stock worth $179,000 after purchasing an additional 1,629 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

HNI Price Performance

Shares of HNI traded up $0.39 during trading hours on Friday, hitting $46.62. The stock had a trading volume of 597,906 shares, compared to its average volume of 701,833. The company's fifty day moving average is $48.00 and its two-hundred day moving average is $46.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. HNI Corporation has a 52 week low of $39.76 and a 52 week high of $58.42. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.65 and a beta of 0.94.

HNI (NYSE:HNI - Get Free Report) last posted its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.25. HNI had a net margin of 5.73% and a return on equity of 20.08%. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $646.49 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that HNI Corporation will post 3.6 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.9%. HNI's dividend payout ratio is currently 44.16%.

Insider Transactions at HNI

In other HNI news, Director Miguel M. Calado sold 1,743 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the sale, the director owned 30,085 shares of the company's stock, valued at $1,594,505. This represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the sale, the insider directly owned 36,711 shares in the company, valued at approximately $1,727,986.77. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,383 shares of company stock worth $270,818. Insiders own 3.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HNI shares. Susquehanna started coverage on shares of HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. Longbow Research started coverage on shares of HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price target on the stock. Finally, Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, HNI currently has an average rating of "Moderate Buy" and an average target price of $75.00.

About HNI

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.