HNI Corporation $HNI Shares Acquired by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly increased its stake in HNI Corporation by 196,733.6% in the first quarter, owning approximately 0.50% of the company valued at over $10 million.
• HNI Corporation reported a better-than-expected quarterly EPS of $1.11, surpassing analyst estimates of $0.86, with a revenue increase of 7.0% year-over-year.
• The company declared a quarterly dividend of $0.34, providing an annualized dividend yield of 2.9%, with a payout ratio of 44.16%.

Jones Financial Companies Lllp increased its stake in HNI Corporation (NYSE:HNI - Free Report) by 196,733.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,232 shares of the business services provider's stock after buying an additional 234,113 shares during the period. Jones Financial Companies Lllp owned about 0.50% of HNI worth $10,388,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HNI. Evergreen Capital Management LLC increased its position in shares of HNI by 4.2% in the 1st quarter. Evergreen Capital Management LLC now owns 8,033 shares of the business services provider's stock worth $356,000 after purchasing an additional 325 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in HNI by 88.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock valued at $31,000 after buying an additional 331 shares during the last quarter. Graham Capital Management L.P. increased its holdings in HNI by 2.4% in the fourth quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider's stock valued at $850,000 after buying an additional 395 shares during the last quarter. Federated Hermes Inc. acquired a new stake in HNI during the first quarter valued at approximately $26,000. Finally, Diversified Trust Co lifted its holdings in HNI by 9.2% during the 1st quarter. Diversified Trust Co now owns 9,447 shares of the business services provider's stock worth $419,000 after buying an additional 794 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

HNI Price Performance

Shares of NYSE HNI opened at $47.03 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a market capitalization of $2.15 billion, a PE ratio of 15.27, a P/E/G ratio of 0.66 and a beta of 0.94. HNI Corporation has a 1-year low of $39.76 and a 1-year high of $58.42. The business's fifty day moving average price is $47.96 and its two-hundred day moving average price is $46.06.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.86 by $0.25. HNI had a net margin of 5.73% and a return on equity of 20.08%. The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $646.49 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company's quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that HNI Corporation will post 3.6 EPS for the current year.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd will be paid a $0.34 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.9%. HNI's dividend payout ratio (DPR) is presently 44.16%.

Insider Buying and Selling

In other news, insider Jason Dean Hagedorn sold 1,440 shares of HNI stock in a transaction that occurred 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 owned 36,711 shares of the company's stock, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Miguel M. Calado sold 1,743 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $53.00, for a total value of $92,379.00. Following the completion of the transaction, the director directly owned 30,085 shares of the company's stock, valued at $1,594,505. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,383 shares of company stock worth $270,818. Corporate insiders own 3.37% of the company's stock.

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.

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