16,575 Shares in HNI Corporation (NYSE:HNI) Purchased by SG Americas Securities LLC

SG Americas Securities LLC bought a new position in HNI Corporation (NYSE:HNI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,575 shares of the business services provider's stock, valued at approximately $735,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in HNI during the 4th quarter worth $8,897,000. Invesco Ltd. lifted its stake in shares of HNI by 35.1% during the fourth quarter. Invesco Ltd. now owns 605,964 shares of the business services provider's stock worth $30,522,000 after purchasing an additional 157,579 shares in the last quarter. Norges Bank purchased a new stake in shares of HNI in the fourth quarter worth about $7,076,000. FMR LLC boosted its position in shares of HNI by 6.8% in the fourth quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock worth $98,755,000 after buying an additional 124,391 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of HNI by 33.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 444,000 shares of the business services provider's stock valued at $22,364,000 after buying an additional 111,000 shares during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Longbow Research started coverage on shares of HNI in a report on Friday, May 16th. They set a "buy" rating and a $70.00 price target for the company. Finally, Susquehanna assumed coverage on shares of HNI in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock.

Insider Buying and Selling

In related news, insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction that occurred on 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 now directly owns 36,711 shares of the company's stock, valued at approximately $1,727,986.77. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.37% of the company's stock.

HNI Stock Up 1.5%

HNI stock traded up $0.72 during midday trading on Tuesday, hitting $48.18. 176,403 shares of the company's stock were exchanged, compared to its average volume of 311,973. The firm has a 50 day moving average price of $45.41 and a 200-day moving average price of $46.92. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45.

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

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. This is a boost from HNI's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 2.82%. HNI's dividend payout ratio (DPR) is presently 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.