PharVision Advisers LLC Takes $264,000 Position in HNI Corporation $HNI

Key Points

• PharVision Advisers LLC has made a new investment of approximately $264,000 in shares of HNI Corporation, purchasing 5,961 shares during the first quarter.
• Notable institutional investors like Raymond James Financial Inc. and Deutsche Bank AG have also adjusted their positions in HNI, with Deutsche Bank increasing its stake by 47.9% in the last quarter.
• HNI Corporation recently announced a quarterly dividend of $0.34, representing an annualized dividend yield of 2.9%, with a payout ratio currently at 44.16%.

PharVision Advisers LLC bought a new stake in HNI Corporation (NYSE:HNI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,961 shares of the business services provider's stock, valued at approximately $264,000.

Other large investors have also modified their holdings of the company. Deutsche Bank AG boosted its holdings in shares of HNI by 47.9% in the 4th 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 in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of HNI in the 1st quarter valued at $365,000. Harbor Capital Advisors Inc. acquired a new position in shares of HNI in the 1st quarter valued at $535,000. Nuveen LLC acquired a new position in shares of HNI in the 1st quarter valued at $8,309,000. Finally, Jane Street Group LLC acquired a new stake in HNI during the 1st quarter worth $10,301,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HNI. Longbow Research began coverage on shares of HNI in a research note on Friday, May 16th. They set a "buy" rating and a $70.00 price target for the company. Susquehanna began coverage on shares of HNI in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.00.

HNI Stock Performance

HNI stock traded down $0.57 during trading hours on Friday, reaching $45.47. 257,551 shares of the stock were exchanged, compared to its average volume of 420,773. The stock has a market cap of $2.08 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46. HNI Corporation has a 52-week low of $39.76 and a 52-week high of $58.42. The firm's 50 day moving average is $47.59 and its 200 day moving average is $46.05.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.25. The company 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 quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. Analysts predict that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.0%. HNI's dividend payout ratio is presently 44.16%.

Insider Buying and Selling

In other HNI news, Director Miguel M. Calado sold 2,000 shares of the company's stock in a transaction on 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 transaction, the director owned 31,828 shares in the company, valued at approximately $1,591,400. This represents a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 3,943 shares of company stock worth $203,037. 3.37% of the stock is currently owned by corporate 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.