Cerity Partners LLC Lowers Stock Holdings in HNI Corporation (NYSE:HNI)

Cerity Partners LLC trimmed its position in shares of HNI Corporation (NYSE:HNI - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 168,107 shares of the business services provider's stock after selling 8,493 shares during the quarter. Cerity Partners LLC owned about 0.36% of HNI worth $7,456,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HNI. Sterling Capital Management LLC boosted its holdings in shares of HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after acquiring an additional 701 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of HNI during the 4th quarter valued at about $55,000. Allworth Financial LP boosted its holdings in shares of HNI by 3,984.9% during the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock valued at $92,000 after acquiring an additional 2,112 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of HNI in the 4th quarter worth approximately $121,000. Finally, Vestcor Inc bought a new position in shares of HNI in the 4th quarter worth approximately $176,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HNI

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the business's stock in a transaction dated Friday, June 13th. The shares were 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 approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Miguel M. Calado sold 2,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of 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. Insiders own 3.37% of the company's stock.

HNI Trading Down 1.5%

NYSE HNI traded down $0.75 on Friday, hitting $50.93. 166,427 shares of the stock were exchanged, compared to its average volume of 314,170. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19. The stock has a fifty day moving average price of $48.53 and a two-hundred day moving average price of $46.78. The firm has a market capitalization of $2.37 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.23 and a beta of 0.92. HNI Corporation has a 52-week low of $39.76 and a 52-week high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The firm had revenue of $599.80 million during the quarter, compared to analyst estimates of $580.47 million. HNI had a net margin of 5.35% and a return on equity of 18.48%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. Research analysts forecast that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were issued a $0.34 dividend. The ex-dividend date was Friday, May 23rd. This is an increase from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.67%. HNI's payout ratio is currently 48.40%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Susquehanna began 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. Finally, Longbow Research began coverage on shares of HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 target price for the company.

HNI Company 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.