KBC Group NV Has $109,000 Stock Holdings in HNI Corporation (NYSE:HNI)

KBC Group NV reduced its holdings in HNI Corporation (NYSE:HNI - Free Report) by 74.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,449 shares of the business services provider's stock after selling 7,235 shares during the quarter. KBC Group NV's holdings in HNI were worth $109,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co boosted its holdings in shares of HNI by 9.2% in the 1st quarter. Diversified Trust Co now owns 9,447 shares of the business services provider's stock valued at $419,000 after buying an additional 794 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of HNI by 22.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 5,771 shares of the business services provider's stock valued at $256,000 after acquiring an additional 1,047 shares during the period. Ritholtz Wealth Management grew its position in shares of HNI by 19.4% in the 1st quarter. Ritholtz Wealth Management now owns 20,761 shares of the business services provider's stock valued at $921,000 after acquiring an additional 3,375 shares during the period. SG Americas Securities LLC bought a new stake in shares of HNI in the 1st quarter valued at about $735,000. Finally, Harbor Capital Advisors Inc. acquired a new position in HNI during the first quarter worth approximately $535,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HNI shares. Susquehanna started coverage on HNI in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. Longbow Research started coverage on HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price target on the stock. Finally, Wall Street Zen raised HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th.

HNI Stock Performance

HNI stock traded down $0.79 during trading hours on Friday, hitting $51.63. The company had a trading volume of 163,090 shares, compared to its average volume of 314,719. The firm has a market cap of $2.40 billion, a PE ratio of 18.37, a PEG ratio of 1.24 and a beta of 0.92. 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 Corporation has a one year low of $39.76 and a one year high of $58.42. The firm has a 50-day moving average of $47.74 and a 200 day moving average of $46.77.

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

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from HNI's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 23rd. HNI's payout ratio is presently 48.40%.

Insider Activity at HNI

In related news, Director Miguel M. Calado sold 2,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the sale, the insider owned 36,711 shares in the company, valued at $1,727,986.77. The trade was a 3.77% 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.

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.