Campbell & CO Investment Adviser LLC Takes Position in HNI Corporation $HNI

Key Points

• Campbell & CO Investment Adviser LLC has acquired 31,835 shares of HNI Corporation, valued at approximately $1,412,000, now holding about 0.07% of the company.
• HNI Corporation recently declared a $0.34 quarterly dividend, representing an annualized dividend yield of 3.1%.
• Analyst ratings for HNI have improved, with reports upgrading the stock from a "buy" to a "strong-buy" rating, contributing to a consensus rating of "Moderate Buy".

Campbell & CO Investment Adviser LLC bought a new stake in shares of HNI Corporation (NYSE:HNI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,835 shares of the business services provider's stock, valued at approximately $1,412,000. Campbell & CO Investment Adviser LLC owned about 0.07% of HNI at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake in HNI by 88.5% during the first 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. lifted its position 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 acquiring an additional 395 shares in the last quarter. Federated Hermes Inc. acquired a new position in HNI in the 1st quarter worth approximately $26,000. Diversified Trust Co boosted its stake in HNI by 9.2% in the 1st quarter. Diversified Trust Co now owns 9,447 shares of the business services provider's stock worth $419,000 after purchasing an additional 794 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in HNI by 22.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 5,771 shares of the business services provider's stock worth $256,000 after purchasing an additional 1,047 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Susquehanna assumed coverage on shares of HNI in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective on the stock. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Longbow Research assumed coverage on shares of HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

HNI Stock Down 0.1%

Shares of NYSE:HNI traded down $0.06 during trading on Friday, reaching $44.96. 424,811 shares of the company traded hands, compared to its average volume of 988,135. The firm has a fifty day simple moving average of $48.30 and a 200 day simple moving average of $46.19. The firm has a market cap of $2.06 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.63 and a beta of 0.94. HNI Corporation has a 1-year low of $39.76 and a 1-year high of $58.42. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56.

HNI (NYSE:HNI - Get Free Report) last issued 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 company had revenue of $667.10 million during the quarter, compared to analyst estimates of $646.49 million. HNI had a net margin of 5.73% and a return on equity of 20.08%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. Analysts anticipate that HNI Corporation will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

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

Insider Buying and Selling

In other news, Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the transaction, the director owned 30,085 shares in the company, valued at approximately $1,594,505. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Dean Hagedorn sold 1,440 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $47.07, for a total transaction of $67,780.80. Following the transaction, the insider owned 36,711 shares in the company, valued at $1,727,986.77. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,383 shares of company stock valued at $270,818 over the last quarter. Corporate insiders own 3.37% of the company's 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.