Bank of America Corp DE Acquires 389,107 Shares of HNI Corporation $HNI

Key Points

• Bank of America acquired 389,107 HNI shares worth approximately $15.7 million during the second quarter, giving it a 0.54% stake. Institutional investors collectively own 75.26% of HNI.
• HNI reported quarterly EPS of $1.27, beating estimates of $1.04, while revenue rose 120.7% year over year to $1.47 billion. The company maintained fiscal 2026 EPS guidance of $4.15 to $4.33.
• HNI shares opened at $46.69, near their 52-week high, and the company pays a quarterly dividend of $0.35, equivalent to a 3.0% annualized yield. Analysts give the stock a consensus “Moderate Buy” rating with a $65 price target.

Bank of America Corp DE bought a new stake in shares of HNI Corporation (NYSE:HNI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 389,107 shares of the business services provider's stock, valued at approximately $15,724,000. Bank of America Corp DE owned approximately 0.54% of HNI at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HNI. Freestone Grove Partners LP purchased a new stake in shares of HNI in the 2nd quarter worth approximately $615,000. Medina Value Partners LLC purchased a new position in HNI during the second quarter valued at $10,242,319. Jupiter Topco LLC purchased a new position in HNI during the second quarter valued at $1,289,000. Legal & General Group Plc bought a new stake in HNI in the second quarter worth $6,407,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of HNI in the second quarter worth $1,400,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey Lorenger sold 1,504 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $50.00, for a total transaction of $75,200.00. Following the completion of the transaction, the chief executive officer directly owned 148,490 shares of the company's stock, valued at $7,424,500. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 95,138 shares of company stock worth $4,648,587. Company insiders own 2.15% of the company's stock.

HNI Stock Down 1.0%

HNI stock opened at $46.69 on Friday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 518.82, a PEG ratio of 0.56 and a beta of 0.92. The stock has a fifty day simple moving average of $46.87 and a two-hundred day simple moving average of $39.39. HNI Corporation has a 12 month low of $28.93 and a 12 month high of $52.79. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76.

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

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 28th. HNI's dividend payout ratio (DPR) is presently 1,555.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HNI. Wells Fargo & Company set a $65.00 price target on HNI in a report on Wednesday, July 15th. Benchmark reiterated a "buy" rating on shares of HNI in a research note on Wednesday, July 15th. Wall Street Zen raised shares of HNI from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Weiss Ratings upgraded shares of HNI from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

About HNI

HNI Corporation NYSE: HNI is a workplace furnishings and building products company headquartered in Muscatine, Iowa. Through its office furniture businesses, the company designs and manufactures products for commercial workplaces, government facilities, education, healthcare and other institutional environments.

HNI's office furnishings portfolio includes desks, tables, seating, storage, workplace accessories and related solutions. Its brands have included HON, Allsteel, Gunlocke, HBF and OFM, serving organizations through dealers, distributors, direct sales and other channels.

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