Cerity Partners LLC cut its stake in shares of HNI Corporation (NYSE:HNI - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,107 shares of the business services provider's stock after selling 8,493 shares during the period. Cerity Partners LLC owned about 0.36% of HNI worth $7,456,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of HNI. Raymond James Financial Inc. acquired a new position in HNI during the 4th quarter valued at about $245,000. Amundi grew its stake in HNI by 206.5% in the 4th quarter. Amundi now owns 26,167 shares of the business services provider's stock valued at $1,252,000 after buying an additional 17,631 shares in the last quarter. Vestcor Inc purchased a new position in HNI in the 4th quarter valued at approximately $176,000. Natixis Advisors LLC purchased a new position in HNI in the 4th quarter valued at approximately $745,000. Finally, Royce & Associates LP purchased a new position in HNI in the 4th quarter valued at approximately $395,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other HNI news, Director Miguel M. Calado sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $50.00, for a total transaction of $100,000.00. Following the transaction, the director owned 31,828 shares in the company, valued at approximately $1,591,400. This represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the sale, 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 disclosure for this sale can be found here. 3.37% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on HNI shares. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Susquehanna assumed coverage on shares of HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. Finally, Longbow Research assumed coverage on shares of HNI in a research note on Friday, May 16th. They issued a "buy" rating and a $70.00 price target for the company.
View Our Latest Report on HNI
HNI Stock Performance
HNI stock traded up $0.81 on Thursday, hitting $51.72. The company had a trading volume of 66,894 shares, compared to its average volume of 313,304. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45. The stock's 50-day simple moving average is $48.36 and its 200 day simple moving average is $46.77. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.20 and a beta of 0.92.
HNI (NYSE:HNI - Get Free Report) last announced its quarterly 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. HNI had a net margin of 5.35% and a return on equity of 18.48%. The company had revenue of $599.80 million for the quarter, compared to the consensus estimate of $580.47 million. During the same period in the previous year, the firm posted $0.37 EPS. HNI's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that HNI Corporation will post 3.6 earnings per share for the current fiscal year.
HNI Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 23rd were paid a dividend of $0.34 per share. The ex-dividend date was Friday, May 23rd. This is a boost from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.63%. HNI's payout ratio is currently 48.40%.
HNI Company Profile
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Free Report)
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.
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