Legal & General Group Plc Makes New $6.41 Million Investment in HNI Corporation $HNI

Key Points

• Legal & General Group purchased 158,544 HNI shares worth approximately $6.41 million, joining other institutions that recently established positions. Institutional investors now own 75.26% of HNI.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and an average price target of $65. HNI recently exceeded quarterly EPS expectations, reporting $1.27 versus the $1.04 consensus estimate.
• HNI shares opened at $48.40, up 2.0%, while the company declared a quarterly dividend of $0.35, yielding 2.9% annually. CEO Jeffrey Lorenger also sold 1,504 shares under a pre-arranged Rule 10b5-1 trading plan.

Legal & General Group Plc purchased a new position in HNI Corporation (NYSE:HNI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 158,544 shares of the business services provider's stock, valued at approximately $6,407,000. Legal & General Group Plc owned 0.22% of HNI at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HNI. Burnham & Co LLC purchased a new position in HNI during the 2nd quarter valued at about $4,024,000. Oxford Financial Group LTD. LLC purchased a new stake in shares of HNI in the second quarter worth about $2,574,000. Deutsche Bank AG bought a new position in shares of HNI in the second quarter valued at approximately $2,994,000. Front Street Capital Management Inc. purchased a new position in HNI during the second quarter valued at approximately $23,462,000. Finally, Callan Family Office LLC purchased a new position in HNI during the second quarter valued at approximately $827,000. 75.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark reissued a "buy" rating on shares of HNI in a report on Wednesday, July 15th. Weiss Ratings upgraded HNI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company set a $65.00 target price on HNI in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.00.

HNI Trading Up 2.0%

Shares of HNI stock opened at $48.40 on Thursday. The business has a 50-day moving average price of $44.64 and a two-hundred day moving average price of $39.35. HNI Corporation has a 12-month low of $28.93 and a 12-month high of $52.79. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The firm has a market cap of $3.49 billion, a P/E ratio of 537.85, a price-to-earnings-growth ratio of 0.56 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.23. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.48 billion. HNI had a return on equity of 13.66% and a net margin of 0.10%.HNI's revenue for the quarter was up 120.7% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. Equities analysts anticipate that HNI Corporation will post 4.24 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 28th. HNI's payout ratio is presently 1,555.56%.

Insider Activity

In related news, CEO Jeffrey D. Lorenger sold 1,504 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $50.00, for a total transaction of $75,200.00. Following the transaction, the chief executive officer owned 148,490 shares of the company's stock, valued at approximately $7,424,500. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 95,138 shares of company stock valued at $4,648,587. 2.15% of the stock is currently owned by corporate insiders.

HNI Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI's Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.

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