HNI Corporation $HNI Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its HNI Corp. stake by 81.9% in the first quarter, selling 34,926 shares and leaving it with 7,695 shares worth about $257,000.
• HNI reported quarterly EPS of $0.34, topping analyst expectations of $0.31, while revenue came in slightly below estimates at $1.35 billion.
• The company raised its quarterly dividend to $0.35 per share, or $1.40 annualized, for a yield of about 3.5%; meanwhile, analysts currently have an average Hold rating with a consensus price target of $65.00.

SG Americas Securities LLC lessened its position in HNI Corporation (NYSE:HNI - Free Report) by 81.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,695 shares of the business services provider's stock after selling 34,926 shares during the period. SG Americas Securities LLC's holdings in HNI were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HNI. Triumph Capital Management bought a new position in HNI during the third quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in HNI by 59.9% in the 4th quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider's stock valued at $51,000 after acquiring an additional 458 shares during the last quarter. Royal Bank of Canada lifted its holdings in HNI by 20.5% in the 1st quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider's stock valued at $383,000 after acquiring an additional 1,472 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of HNI by 6.3% during the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider's stock valued at $600,000 after purchasing an additional 802 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of HNI in the 3rd quarter worth approximately $676,000. Institutional investors and hedge funds own 75.26% of the company's stock.

HNI Trading Up 2.5%

Shares of HNI opened at $39.99 on Friday. The business's 50-day moving average price is $34.20 and its 200 day moving average price is $39.43. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.85 billion, a P/E ratio of 97.55, a P/E/G ratio of 0.49 and a beta of 0.90. HNI Corporation has a 1-year low of $28.93 and a 1-year high of $53.29.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The business's quarterly revenue was up 124.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Analysts expect that HNI Corporation will post 4 earnings per share for the current year.

HNI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 29th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.5%. This is a positive change from HNI's previous quarterly dividend of $0.34. HNI's dividend payout ratio (DPR) is 341.46%.

Analysts Set New Price Targets

HNI has been the subject of several recent research reports. Weiss Ratings lowered shares of HNI from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, May 21st. Benchmark decreased their price target on shares of HNI from $75.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.00.

HNI Profile

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.

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