Northern Trust Corp Has $97.79 Million Stake in HNI Corporation $HNI

Key Points

• Northern Trust Corp increased its stake in HNI Corporation by 0.9%, owning 2,204,982 shares valued at approximately $97.79 million as reported in their recent SEC filing.
• HNI Corporation reported earnings per share of $1.11 for the last quarter, exceeding analyst expectations of $0.86, and had a revenue of $667.10 million, indicating a 7% year-over-year increase.
• The company declared a quarterly dividend of $0.34 per share, with a payout ratio of 44.16%, signifying a strong return to investors.

Northern Trust Corp boosted its stake in HNI Corporation (NYSE:HNI - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,204,982 shares of the business services provider's stock after acquiring an additional 19,287 shares during the quarter. Northern Trust Corp owned 4.74% of HNI worth $97,791,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HNI. Dimensional Fund Advisors LP lifted its holdings in shares of HNI by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock valued at $81,786,000 after purchasing an additional 43,249 shares in the last quarter. Systematic Financial Management LP lifted its stake in HNI by 1.8% in the 4th quarter. Systematic Financial Management LP now owns 474,140 shares of the business services provider's stock valued at $23,882,000 after acquiring an additional 8,303 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in HNI by 33.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 444,000 shares of the business services provider's stock worth $22,364,000 after acquiring an additional 111,000 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of HNI by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 258,055 shares of the business services provider's stock worth $11,445,000 after acquiring an additional 7,874 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of HNI by 1.8% in the first quarter. Victory Capital Management Inc. now owns 230,453 shares of the business services provider's stock valued at $10,221,000 after purchasing an additional 4,158 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

HNI Stock Performance

Shares of HNI opened at $44.8380 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a 50-day moving average of $48.50 and a 200-day moving average of $46.35. The company has a market cap of $2.05 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.63 and a beta of 0.95. HNI Corporation has a one year low of $39.76 and a one year high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.25. The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $646.49 million. HNI had a net margin of 5.73% and a return on equity of 20.08%. HNI's revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. As a group, equities analysts forecast that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. HNI's payout ratio is presently 44.16%.

Wall Street Analyst Weigh In

HNI has been the subject of several recent research reports. Longbow Research began coverage on shares of HNI in a report on Friday, May 16th. They set a "buy" rating and a $70.00 target price for the company. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Susquehanna assumed coverage on HNI in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Insiders Place Their Bets

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.07, for a total value of $67,780.80. Following the transaction, the insider directly owned 36,711 shares of the company's stock, valued at $1,727,986.77. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miguel M. Calado sold 1,743 shares of HNI stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $53.00, for a total transaction of $92,379.00. Following the sale, the director directly owned 30,085 shares of the company's stock, valued at $1,594,505. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,383 shares of company stock worth $270,818. 3.37% of the stock is owned by company insiders.

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.

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