HNI Corporation $HNI Stock Holdings Lessened by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. decreased its stake in HNI Corporation by 3.0%, with holdings now at approximately 1.64% of the company, valued at $34.25 million.
• HNI Corporation's stock recently received a strong-buy rating from Wall Street Zen, with target prices set at $70.00 and $80.00 by other analysts.
• The company announced a quarterly dividend of $0.34 scheduled for payment on September 11th, reflecting a 3.1% dividend yield.

Charles Schwab Investment Management Inc. trimmed its stake in HNI Corporation (NYSE:HNI - Free Report) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 772,273 shares of the business services provider's stock after selling 23,999 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.64% of HNI worth $34,250,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of HNI by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 34,509 shares of the business services provider's stock valued at $1,738,000 after buying an additional 6,497 shares during the period. Deutsche Bank AG grew its position in HNI by 47.9% during the fourth quarter. Deutsche Bank AG now owns 41,136 shares of the business services provider's stock valued at $2,072,000 after acquiring an additional 13,330 shares during the period. Jefferies Financial Group Inc. purchased a new stake in HNI during the first quarter valued at about $365,000. Harbor Capital Advisors Inc. purchased a new stake in HNI during the first quarter valued at about $535,000. Finally, SG Americas Securities LLC purchased a new stake in shares of HNI during the 1st quarter worth about $735,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,727,986.77. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Miguel M. Calado sold 2,000 shares of the 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 transaction, the director directly owned 31,828 shares in the company, valued at $1,591,400. The trade was a 5.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,383 shares of company stock worth $270,818 in the last ninety days. Corporate insiders own 3.37% of the company's stock.

Analyst Upgrades and Downgrades

HNI has been the subject of a number of research reports. Susquehanna initiated coverage on HNI in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price for the company. Longbow Research initiated coverage on shares of HNI in a research note on Friday, May 16th. They set a "buy" rating and a $70.00 price objective for the company. Finally, Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $75.00.

HNI Stock Up 3.1%

Shares of HNI stock traded up $1.3680 on Friday, hitting $44.8380. 1,005,271 shares of the company's stock traded hands, compared to its average volume of 857,394. The stock has a market cap of $2.05 billion, a P/E ratio of 14.56, a PEG ratio of 0.61 and a beta of 0.95. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average is $48.50 and its 200 day moving average is $46.37. 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 released its earnings results on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.86 by $0.25. HNI had a return on equity of 20.08% and a net margin of 5.73%.The company had revenue of $667.10 million during the quarter, compared to analysts' expectations of $646.49 million. During the same period in the prior year, the business posted $0.79 EPS. The business's revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. HNI's dividend payout ratio (DPR) is presently 44.16%.

About HNI

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.