HNI Co. (NYSE:HNI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of HNI Co. (NYSE:HNI - Free Report) by 2,701.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,816 shares of the business services provider's stock after purchasing an additional 22,966 shares during the quarter. GAMMA Investing LLC owned 0.05% of HNI worth $10,560,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HNI. Smartleaf Asset Management LLC grew its stake in HNI by 85.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock valued at $28,000 after acquiring an additional 258 shares during the period. Sterling Capital Management LLC raised 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 worth $41,000 after acquiring an additional 701 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of HNI during the 4th quarter worth $55,000. Meeder Asset Management Inc. purchased a new stake in HNI in the 4th quarter valued at about $121,000. Finally, Vestcor Inc purchased a new stake in HNI in the 4th quarter valued at about $176,000. Institutional investors and hedge funds own 75.26% of the company's stock.

HNI Price Performance

Shares of NYSE HNI opened at $46.65 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42. The stock has a 50 day moving average of $44.30 and a two-hundred day moving average of $47.69. The stock has a market cap of $2.17 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.14 and a beta of 0.93.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. HNI had a return on equity of 18.27% and a net margin of 5.52%. The business had revenue of $599.80 million during the quarter, compared to analysts' expectations of $580.47 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts forecast that HNI Co. will post 3.6 earnings per share for the current year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio is 48.40%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen raised HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Longbow Research began coverage on HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price objective for the company. Finally, Susquehanna began coverage on HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target 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.

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