Allianz Asset Management GmbH Has $2.67 Million Stock Holdings in HNI Corporation (NYSE:HNI)

Key Points

• Allianz Asset Management GmbH has reduced its stake in HNI Corporation by 15.4%, leaving it with approximately 0.13% ownership valued at $2.67 million.
• HNI recently declared a quarterly dividend of $0.34, an increase from the previous $0.33, resulting in a 2.62% annual yield.
• The company's stock has shown positive performance, reporting quarterly earnings of $1.11 per share, surpassing analysts' estimates of $0.86.

Allianz Asset Management GmbH lessened its holdings in shares of HNI Corporation (NYSE:HNI - Free Report) by 15.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,269 shares of the business services provider's stock after selling 10,980 shares during the period. Allianz Asset Management GmbH owned 0.13% of HNI worth $2,673,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in HNI by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 34,509 shares of the business services provider's stock valued at $1,738,000 after buying an additional 6,497 shares during the period. Deutsche Bank AG lifted its stake in HNI by 47.9% in the fourth quarter. Deutsche Bank AG now owns 41,136 shares of the business services provider's stock valued at $2,072,000 after buying an additional 13,330 shares during the period. Vanguard Group Inc. lifted its stake in HNI by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after buying an additional 62,476 shares during the period. Harbor Capital Advisors Inc. acquired a new position in HNI in the first quarter valued at about $535,000. Finally, SG Americas Securities LLC acquired a new stake in shares of HNI during the first quarter worth about $735,000. Institutional investors own 75.26% of the company's stock.

HNI Stock Down 1.7%

HNI stock traded down $0.89 during midday trading on Friday, reaching $50.55. The stock had a trading volume of 315,093 shares, compared to its average volume of 234,604. The firm's fifty day simple moving average is $49.38 and its 200-day simple moving average is $47.02. HNI Corporation has a 1-year low of $39.76 and a 1-year high of $58.42. The stock has a market capitalization of $2.32 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 1.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.25. The business had revenue of $667.10 million for 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%. HNI's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. As a group, analysts expect that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were paid a $0.34 dividend. This is a positive change from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, May 23rd. HNI's dividend payout ratio is 44.16%.

Insider Buying and Selling

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the firm'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 value of $67,780.80. Following the completion of the transaction, the insider directly owned 36,711 shares in the company, valued at $1,727,986.77. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Miguel M. Calado sold 2,000 shares of HNI 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 of the company's stock, valued at $1,591,400. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,383 shares of company stock valued at $270,818. Corporate insiders own 3.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Susquehanna assumed coverage on HNI in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. Wall Street Zen raised HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Longbow Research assumed coverage on HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price target on the stock.

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.