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 stake in shares of HNI Corporation (NYSE:HNI - Free Report) by 32.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund 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 SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in HNI by 20.5% during the 1st quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider's stock valued at $383,000 after purchasing an additional 1,472 shares during the last quarter. Quarry LP boosted its stake in HNI by 4,741.5% during the 1st quarter. Quarry LP now owns 1,985 shares of the business services provider's stock valued at $88,000 after purchasing an additional 1,944 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in HNI by 4.2% during 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. OMERS ADMINISTRATION Corp acquired a new position in HNI during the 1st quarter valued at about $656,000. Finally, Jane Street Group LLC purchased a new position in shares of HNI in the 1st quarter worth approximately $10,301,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Insider Buying and Selling at HNI

In other news, Director Miguel M. Calado sold 2,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the transaction, the director owned 31,828 shares in the company, valued at $1,591,400. The trade was a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 3,943 shares of company stock valued at $203,037. 3.37% of the stock is owned by insiders.

HNI Stock Performance

Shares of NYSE HNI traded up $0.16 during midday trading on Monday, reaching $45.40. The company's stock had a trading volume of 538,864 shares, compared to its average volume of 684,929. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The firm has a 50 day moving average price of $47.34 and a 200-day moving average price of $46.01. The stock has a market capitalization of $2.08 billion, a P/E ratio of 14.74, a PEG ratio of 0.64 and a beta of 0.94. 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 (NYSE:HNI - Get Free Report) last announced its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.25. HNI had a return on equity of 20.08% and a net margin of 5.73%.The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $646.49 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company's revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 22nd. HNI's payout ratio is presently 44.16%.

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.