7,159 Shares in HNI Corporation $HNI Acquired by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA acquired a new stake in HNI Corporation, purchasing 7,159 shares valued at approximately $318,000 during the first quarter, indicating growing institutional interest in the company.
• HNI Corporation has received a moderate buy average rating from analysts, with a consensus price target of $75.00 and several firms initiating coverage or adjusting ratings positively.
• The company announced a quarterly dividend of $0.34 per share, leading to an annualized dividend yield of 2.9%, reflecting its stable financial performance.

Petrus Trust Company LTA purchased a new stake in HNI Corporation (NYSE:HNI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,159 shares of the business services provider's stock, valued at approximately $318,000.

A number of other hedge funds have also recently bought and sold shares of HNI. Raymond James Financial Inc. bought a new position in HNI in the fourth quarter valued at approximately $245,000. Deutsche Bank AG lifted its position in shares of HNI by 47.9% in the fourth quarter. Deutsche Bank AG now owns 41,136 shares of the business services provider's stock valued at $2,072,000 after buying an additional 13,330 shares during the last quarter. Graham Capital Management L.P. lifted its position in shares of HNI by 2.4% in the fourth quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider's stock valued at $850,000 after buying an additional 395 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of HNI by 46.3% in the fourth quarter. Gotham Asset Management LLC now owns 14,884 shares of the business services provider's stock valued at $750,000 after buying an additional 4,712 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of HNI by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 20,574 shares of the business services provider's stock valued at $1,036,000 after buying an additional 2,200 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

HNI Stock Performance

Shares of HNI traded down $0.84 during mid-day trading on Friday, reaching $45.19. The company's stock had a trading volume of 643,763 shares, compared to its average volume of 684,929. HNI Corporation has a 1-year low of $39.76 and a 1-year high of $58.42. The stock has a market cap of $2.07 billion, a P/E ratio of 14.67, a PEG ratio of 0.64 and a beta of 0.94. The business has a 50-day simple moving average of $47.45 and a two-hundred day simple moving average of $46.02. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56.

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

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 22nd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 22nd. HNI's dividend payout ratio (DPR) is presently 44.16%.

Insiders Place Their Bets

In related news, Director Miguel M. Calado sold 1,743 shares of HNI stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director directly owned 30,085 shares of the company's stock, valued at approximately $1,594,505. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 3,943 shares of company stock worth $203,037. Company insiders own 3.37% of the company's stock.

HNI 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.