Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HNI Corporation (NYSE:HNI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 62,481 shares of the business services provider's stock, valued at approximately $2,525,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of HNI as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of HNI by 20.5% in the first 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 boosted its stake in HNI by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider's stock worth $600,000 after purchasing an additional 802 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in HNI by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,239 shares of the business services provider's stock worth $1,252,000 after purchasing an additional 1,290 shares in the last quarter. Millennium Management LLC acquired a new stake in HNI during the 1st quarter valued at $10,666,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of HNI by 7.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,290 shares of the business services provider's stock valued at $6,311,000 after purchasing an additional 9,730 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company's stock.
Insider Transactions at HNI
In other news, CEO Jeffrey D. Lorenger sold 39,576 shares of HNI stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.09, for a total value of $1,982,361.84. Following the transaction, the chief executive officer directly owned 148,490 shares in the company, valued at approximately $7,437,864.10. The trade was a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 93,634 shares of company stock worth $4,573,387 in the last three months. 2.15% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on HNI. Benchmark reiterated a "buy" rating on shares of HNI in a report on Wednesday, July 15th. Wells Fargo & Company set a $65.00 price objective on HNI in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded HNI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $65.00.
View Our Latest Analysis on HNI
HNI Trading Down 1.9%
Shares of NYSE HNI opened at $49.03 on Friday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 544.84, a PEG ratio of 0.59 and a beta of 0.91. The business has a 50 day simple moving average of $43.86 and a 200 day simple moving average of $39.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 1.36. HNI Corporation has a 52 week low of $28.93 and a 52 week high of $52.79.
HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.04 by $0.23. HNI had a net margin of 0.10% and a return on equity of 13.66%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.11 EPS. HNI's quarterly revenue was up 120.7% on a year-over-year basis. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. On average, research analysts predict that HNI Corporation will post 4.24 earnings per share for the current fiscal year.
HNI Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend 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%.
About HNI
(
Free Report)
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.
See Also
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