580,610 Shares in HNI Corporation $HNI Purchased by Front Street Capital Management Inc.

Key Points

• Front Street Capital Management purchased 580,610 HNI shares worth approximately $23.5 million, representing about 0.8% of the company and 2.7% of its portfolio. Institutional investors collectively own 75.26% of HNI.
• HNI reported quarterly EPS of $1.27, exceeding the $1.04 consensus estimate, while revenue rose 120.7% year over year to $1.47 billion. Analysts maintain a “Moderate Buy” consensus with a $65 price target.
• CEO Jeffrey D. Lorenger sold 45,850 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 23.59%. HNI also declared a quarterly dividend of $0.35 per share, equivalent to a 2.9% annualized yield.

Front Street Capital Management Inc. bought a new stake in HNI Corporation (NYSE:HNI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 580,610 shares of the business services provider's stock, valued at approximately $23,462,000. HNI makes up approximately 2.7% of Front Street Capital Management Inc.'s portfolio, making the stock its 15th largest position. Front Street Capital Management Inc. owned about 0.80% of HNI at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HNI. BlackRock Inc. purchased a new position in shares of HNI during the 2nd quarter valued at $431,744,000. Bank of New York Mellon Corp purchased a new stake in HNI in the 2nd quarter worth about $37,988,000. Millennium Management LLC bought a new stake in HNI in the 1st quarter valued at about $10,666,000. Jane Street Group LLC purchased a new stake in HNI during the first quarter valued at about $10,301,000. Finally, Cooke & Bieler LP lifted its holdings in HNI by 23.0% during the fourth quarter. Cooke & Bieler LP now owns 754,493 shares of the business services provider's stock valued at $31,719,000 after purchasing an additional 140,971 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

Insider Buying and Selling

In other HNI news, CEO Jeffrey D. Lorenger sold 45,850 shares of HNI stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $47.55, for a total transaction of $2,180,167.50. Following the sale, the chief executive officer directly owned 148,490 shares of the company's stock, valued at approximately $7,060,699.50. The trade was a 23.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HNI shares. Wells Fargo & Company set a $65.00 price target on HNI in a report on Wednesday, July 15th. Weiss Ratings raised HNI from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 24th. Finally, Benchmark restated a "buy" rating on shares of HNI in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.00.

HNI Price Performance

Shares of NYSE:HNI opened at $49.04 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The stock has a market cap of $3.54 billion, a PE ratio of 544.97, a PEG ratio of 0.58 and a beta of 0.91. The company's fifty day moving average is $42.59 and its 200 day moving average is $39.47. HNI Corporation has a 52 week low of $28.93 and a 52 week high of $52.79.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.23. HNI had a return on equity of 13.66% and a net margin of 0.10%.The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $1.11 EPS. HNI's revenue for the quarter was up 120.7% compared to the same quarter last year. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. Research analysts anticipate that HNI Corporation will post 4.24 earnings per share for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, August 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.9%. HNI's payout ratio is currently 1,555.56%.

HNI Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI's Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.

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