HNI Corporation (NYSE:HNI) Holdings Reduced by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in HNI Corporation (NYSE:HNI - Free Report) by 61.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,076 shares of the business services provider's stock after selling 14,207 shares during the period. Edgestream Partners L.P.'s holdings in HNI were worth $403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in HNI by 14.0% in the 1st quarter. New York State Common Retirement Fund now owns 16,276 shares of the business services provider's stock valued at $722,000 after buying an additional 2,000 shares during the last quarter. Allworth Financial LP grew its position in HNI by 3,984.9% in the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock worth $92,000 after purchasing an additional 2,112 shares during the last quarter. Principal Financial Group Inc. grew its position in HNI by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 258,055 shares of the business services provider's stock worth $11,445,000 after purchasing an additional 7,874 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in HNI in the 1st quarter worth $455,000. Finally, Wealthstar Advisors LLC lifted its holdings in shares of HNI by 22.3% during the 1st quarter. Wealthstar Advisors LLC now owns 10,032 shares of the business services provider's stock worth $445,000 after acquiring an additional 1,828 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Trading Down 1.5%

NYSE HNI opened at $50.93 on Friday. HNI Corporation has a 12 month low of $39.76 and a 12 month high of $58.42. The stock has a market cap of $2.37 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.22 and a beta of 0.92. The stock's fifty day moving average price is $48.53 and its 200-day moving average price is $46.76. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45.

HNI (NYSE:HNI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. HNI had a return on equity of 18.48% and a net margin of 5.35%. The company had revenue of $599.80 million for the quarter, compared to the consensus estimate of $580.47 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. HNI's revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 23rd were paid a dividend of $0.34 per share. This is a positive change from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Friday, May 23rd. HNI's dividend payout ratio (DPR) is currently 48.40%.

Analyst Ratings Changes

Several brokerages have recently commented on HNI. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Susquehanna started coverage on shares of HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Finally, Longbow Research initiated coverage on shares of HNI in a research note on Friday, May 16th. They set a "buy" rating and a $70.00 price objective on the stock.

Insider Buying and Selling

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.07, for a total value of $67,780.80. Following the completion of the transaction, the insider directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Miguel M. Calado sold 2,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the completion of the transaction, the director directly owned 31,828 shares of the company's stock, valued at approximately $1,591,400. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.37% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding HNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HNI Corporation (NYSE:HNI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.