Jones Financial Companies Lllp Purchases 234,113 Shares of HNI Corporation $HNI

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in HNI by 47.9% in the 4th 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 in the last quarter. Jefferies Financial Group Inc. acquired a new position in HNI during the 1st quarter valued at about $365,000. Harbor Capital Advisors Inc. acquired a new position in HNI during the 1st quarter valued at about $535,000. Nuveen LLC acquired a new position in HNI during the 1st quarter valued at about $8,309,000. Finally, Jane Street Group LLC acquired a new position in HNI during the 1st quarter valued at about $10,301,000. Institutional investors own 75.26% of the company's stock.

Insider Activity at HNI

In other HNI news, Director Miguel M. Calado sold 2,000 shares of HNI 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 of the company's stock, valued at $1,591,400. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 3,943 shares of company stock worth $203,037. 3.37% of the stock is owned by company insiders.

HNI Stock Down 1.8%

HNI stock traded down $0.84 during mid-day trading on Friday, reaching $45.19. 643,763 shares of the company traded hands, compared to its average volume of 684,929. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 0.64 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The firm's 50 day moving average price is $47.45 and its 200 day moving average price is $46.02.

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

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. HNI's dividend payout ratio (DPR) is currently 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.