Larson Financial Group LLC Raises Stock Position in HNI Corporation (NYSE:HNI)

Larson Financial Group LLC boosted its position in HNI Corporation (NYSE:HNI - Free Report) by 35.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,558 shares of the business services provider's stock after acquiring an additional 10,000 shares during the quarter. Larson Financial Group LLC owned 0.08% of HNI worth $1,710,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in HNI by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after acquiring an additional 62,476 shares during the last quarter. FMR LLC lifted its stake in HNI by 6.8% in the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock valued at $98,755,000 after purchasing an additional 124,391 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HNI by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock worth $81,786,000 after buying an additional 43,249 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of HNI by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock worth $54,992,000 after buying an additional 6,668 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of HNI by 35.1% in the 4th quarter. Invesco Ltd. now owns 605,964 shares of the business services provider's stock valued at $30,522,000 after acquiring an additional 157,579 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

HNI has been the subject of several analyst reports. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Longbow Research assumed coverage on shares of HNI in a report on Friday, May 16th. They set a "buy" rating and a $70.00 price target for the company. Finally, Susquehanna started coverage on shares of HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock.

HNI Trading Down 1.5%

Shares of NYSE:HNI traded down $0.75 during mid-day trading on Friday, hitting $50.93. The company had a trading volume of 166,427 shares, compared to its average volume of 314,170. The company has a market capitalization of $2.37 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.23 and a beta of 0.92. HNI Corporation has a one year low of $39.76 and a one year high of $58.42. The firm has a fifty day moving average price of $48.53 and a 200 day moving average price of $46.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.73.

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

HNI Increases Dividend

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

Insider Buying and Selling

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction 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 owned 36,711 shares in the company, valued at $1,727,986.77. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Miguel M. Calado sold 2,000 shares of the 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 directly owned 31,828 shares of the company's stock, valued at $1,591,400. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.37% of the company's stock.

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.