HNI Corporation (NYSE:HNI) Shares Sold by Edgestream Partners L.P.

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

Other hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in shares of HNI by 14.0% during the first quarter. New York State Common Retirement Fund now owns 16,276 shares of the business services provider's stock valued at $722,000 after acquiring an additional 2,000 shares during the last quarter. Allworth Financial LP raised its holdings in shares of HNI by 3,984.9% during the first quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock valued at $92,000 after acquiring an additional 2,112 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of HNI by 3.1% during the first quarter. Principal Financial Group Inc. now owns 258,055 shares of the business services provider's stock valued at $11,445,000 after acquiring an additional 7,874 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of HNI during the first quarter valued at approximately $455,000. Finally, Wealthstar Advisors LLC raised its holdings in shares of HNI by 22.3% during the first quarter. Wealthstar Advisors LLC now owns 10,032 shares of the business services provider's stock valued at $445,000 after acquiring an additional 1,828 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on HNI shares. Susquehanna started 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 raised HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Longbow Research started coverage on HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price target for the company.

HNI Trading Up 2.4%

Shares of NYSE HNI traded up $1.23 during trading on Wednesday, reaching $52.57. The stock had a trading volume of 321,265 shares, compared to its average volume of 314,261. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19. The business's 50-day moving average price is $48.72 and its 200-day moving average price is $46.83. The company has a market cap of $2.45 billion, a P/E ratio of 18.71, a PEG ratio of 1.22 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The firm had revenue of $599.80 million during the quarter, compared to analyst estimates of $580.47 million. HNI had a return on equity of 18.48% and a net margin of 5.35%. HNI's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. On average, equities research analysts predict that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 23rd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio (DPR) is currently 48.40%.

Insider Transactions 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 stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the sale, the director owned 31,828 shares of the company's stock, valued at approximately $1,591,400. The trade was a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Dean Hagedorn sold 1,440 shares of HNI stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $47.07, for a total value of $67,780.80. Following the completion of the sale, the insider directly owned 36,711 shares in the company, valued at $1,727,986.77. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. Company 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.