KBC Group NV Cuts Stock Holdings in HNI Corporation (NYSE:HNI)

KBC Group NV cut its holdings in shares of HNI Corporation (NYSE:HNI - Free Report) by 74.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,449 shares of the business services provider's stock after selling 7,235 shares during the period. KBC Group NV's holdings in HNI were worth $109,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of HNI by 85.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock valued at $28,000 after acquiring an additional 258 shares during the period. Sterling Capital Management LLC grew its position in shares of HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after acquiring an additional 701 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of HNI during the 4th quarter valued at about $55,000. Meeder Asset Management Inc. acquired a new stake in shares of HNI during the 4th quarter valued at about $121,000. Finally, Vestcor Inc acquired a new stake in shares of HNI during the 4th quarter valued at about $176,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HNI has been the topic of several research analyst reports. Longbow Research initiated coverage on HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price objective on the stock. Susquehanna initiated coverage on HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Finally, Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Insider Transactions at HNI

In other 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 value of $100,000.00. Following the completion of the sale, the director directly owned 31,828 shares of the company's stock, valued at approximately $1,591,400. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.07, for a total transaction of $67,780.80. Following the completion of the sale, the insider directly owned 36,711 shares of the company's stock, 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. 3.37% of the stock is currently owned by corporate insiders.

HNI Stock Down 0.0%

Shares of NYSE:HNI traded down $0.01 during trading on Tuesday, hitting $51.27. The company's stock had a trading volume of 150,860 shares, compared to its average volume of 336,109. The business has a 50 day moving average price of $47.17 and a two-hundred day moving average price of $46.69. The company has a market capitalization of $2.39 billion, a PE ratio of 18.25, a P/E/G ratio of 1.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The business services provider reported $0.44 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 firm had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from HNI's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 23rd. HNI's dividend payout ratio is presently 48.40%.

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.