Nuveen LLC Takes $8.31 Million Position in HNI Corporation $HNI

Key Points

• Nuveen LLC acquired 187,343 shares of HNI Corporation, valued at approximately $8,309,000, representing a 0.40% ownership stake as of their latest SEC filing.
• Insiders at HNI have recently sold shares, with sales totaling 5,383 shares valued at around $270,818 over the past ninety days.
• HNI announced a quarterly dividend of $0.34 per share, to be paid on September 11th, reflecting a 3.0% yield and a payout ratio of 44.16%.

Nuveen LLC bought a new stake in shares of HNI Corporation (NYSE:HNI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 187,343 shares of the business services provider's stock, valued at approximately $8,309,000. Nuveen LLC owned about 0.40% of HNI at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. lifted 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. First Trust Advisors LP lifted its holdings in shares of HNI by 273.3% during the 4th quarter. First Trust Advisors LP now owns 118,163 shares of the business services provider's stock valued at $5,952,000 after buying an additional 86,513 shares during the period. SG Capital Management LLC bought a new position in shares of HNI during the 4th quarter valued at $2,518,000. Dimensional Fund Advisors LP lifted its holdings in shares of HNI by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock valued at $81,786,000 after buying an additional 43,249 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of HNI by 2,701.9% during the 1st quarter. GAMMA Investing LLC now owns 23,816 shares of the business services provider's stock valued at $10,560,000 after buying an additional 22,966 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

HNI Price Performance

Shares of HNI stock traded down $0.06 during trading on Friday, reaching $44.96. 424,811 shares of the stock traded hands, compared to its average volume of 982,649. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 0.63 and a beta of 0.95. The business has a fifty day simple moving average of $48.30 and a two-hundred day simple moving average of $46.23. 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.

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

HNI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 22nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 22nd. HNI's dividend payout ratio is presently 44.16%.

Analyst Ratings Changes

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

Insider Buying and Selling at HNI

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.07, for a total value of $67,780.80. Following the completion of the sale, the insider owned 36,711 shares of the company's stock, valued at $1,727,986.77. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director directly owned 30,085 shares of the company's stock, valued at approximately $1,594,505. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,383 shares of company stock worth $270,818 in the last 90 days. 3.37% of the stock is currently owned by insiders.

HNI 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.