Advisors Asset Management Inc. Sells 9,951 Shares of HNI Corporation $HNI

Key Points

• Advisors Asset Management Inc. reduced its stake in HNI Corporation by 32.5%, decreasing their holdings to 20,632 shares worth $915,000.
• Other hedge funds have increased their positions in HNI, with notable boosts from Caitong International Asset Management (up 88.5%) and Quarry LP (up 4,741.5%) in the first quarter.
• HNI Corporation recently reported strong earnings, with an EPS of $1.11 for the quarter, exceeding consensus estimates, along with a declared quarterly dividend of $0.34 per share.

Advisors Asset Management Inc. lowered its position in shares of HNI Corporation (NYSE:HNI - Free Report) by 32.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,632 shares of the business services provider's stock after selling 9,951 shares during the period. Advisors Asset Management Inc.'s holdings in HNI were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Evergreen Capital Management LLC increased its stake in shares of HNI by 4.2% in the 1st quarter. Evergreen Capital Management LLC now owns 8,033 shares of the business services provider's stock valued at $356,000 after purchasing an additional 325 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 valued at $31,000 after purchasing an additional 331 shares during the last quarter. Graham Capital Management L.P. increased its stake in shares of HNI by 2.4% in the 4th quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider's stock valued at $850,000 after purchasing an additional 395 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of HNI in the 1st quarter valued at $26,000. Finally, Diversified Trust Co increased its stake in shares of HNI by 9.2% in the 1st quarter. Diversified Trust Co now owns 9,447 shares of the business services provider's stock valued at $419,000 after purchasing an additional 794 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

Insider Buying and Selling at HNI

In related news, Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was 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 trade represents a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 3,943 shares of company stock worth $203,037. Company insiders own 3.37% of the company's stock.

HNI Price Performance

Shares of HNI traded down $0.84 during midday trading on Friday, hitting $45.19. The company's stock had a trading volume of 643,763 shares, compared to its average volume of 674,955. HNI Corporation has a one year low of $39.76 and a one year high of $58.42. The company's fifty day simple moving average is $47.45 and its two-hundred day simple moving average is $46.02. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94.

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

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 22nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. HNI's dividend payout ratio (DPR) is 44.16%.

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.