Bank of New York Mellon Corp Buys New Stake in HNI Corporation $HNI

Key Points

• Bank of New York Mellon acquired 940,053 HNI shares worth approximately $38 million, giving it a 1.32% stake. Institutional investors and hedge funds collectively own 75.26% of HNI.
• HNI reported quarterly EPS of $1.27, exceeding estimates of $1.04, while revenue rose 120.7% year over year to $1.47 billion. The company issued fiscal 2026 EPS guidance of $4.15–$4.33.
• HNI declared a quarterly dividend of $0.35, or $1.40 annually, representing a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $65, compared with the reported share price of $49.03.

Bank of New York Mellon Corp bought a new stake in HNI Corporation (NYSE:HNI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 940,053 shares of the business services provider's stock, valued at approximately $37,988,000. Bank of New York Mellon Corp owned 1.32% of HNI as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HNI. Triumph Capital Management acquired a new stake in shares of HNI in the third quarter valued at $28,000. Royal Bank of Canada lifted 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 worth $383,000 after acquiring an additional 1,472 shares in the last quarter. AQR Capital Management LLC lifted its stake in HNI by 6.3% during the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider's stock worth $600,000 after acquiring an additional 802 shares in the last quarter. Entropy Technologies LP purchased a new position in HNI during the 3rd quarter valued at about $676,000. Finally, Handelsbanken Fonder AB boosted its holdings in HNI by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 16,716 shares of the business services provider's stock valued at $703,000 after acquiring an additional 5,790 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Trading Down 1.9%

HNI opened at $49.03 on Friday. The business has a fifty day moving average price of $43.86 and a 200 day moving average price of $39.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.88. HNI Corporation has a 12 month low of $28.93 and a 12 month high of $52.79. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 544.84, a PEG ratio of 0.59 and a beta of 0.91.

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, 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 company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter 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. Sell-side analysts expect that HNI Corporation will post 4.24 earnings per share for the current fiscal year.

HNI Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other HNI news, CEO Jeffrey D. Lorenger sold 45,850 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $47.55, for a total value 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. This represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 93,634 shares of company stock worth $4,573,387. Insiders own 2.15% of the company's stock.

About HNI

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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