Principal Financial Group Inc. Has $11.45 Million Stock Holdings in HNI Corporation (NYSE:HNI)

Principal Financial Group Inc. boosted its holdings in shares of HNI Corporation (NYSE:HNI - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,055 shares of the business services provider's stock after buying an additional 7,874 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of HNI worth $11,445,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock worth $41,000 after acquiring an additional 701 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of HNI in the fourth quarter worth $55,000. Meeder Asset Management Inc. bought a new position in HNI during the fourth quarter worth $121,000. Vestcor Inc acquired a new stake in HNI in the 4th quarter worth $176,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of HNI by 205.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,670 shares of the business services provider's stock worth $185,000 after purchasing an additional 2,470 shares during the period. 75.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the business's 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 completion of the transaction, the insider directly owned 36,711 shares of the company's stock, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Miguel M. Calado sold 2,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 31,828 shares in the company, valued at $1,591,400. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.37% of the company's stock.

HNI Price Performance

Shares of NYSE HNI traded up $0.35 during midday trading on Monday, reaching $52.01. 216,978 shares of the company traded hands, compared to its average volume of 332,761. The stock's 50-day simple moving average is $47.90 and its 200-day simple moving average is $46.71. 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 12 month low of $39.76 and a 12 month high of $58.42. The firm has a market cap of $2.42 billion, a PE ratio of 18.51, a PEG ratio of 1.23 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. HNI had a net margin of 5.35% and a return on equity of 18.48%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. As a group, equities analysts anticipate that HNI Corporation will post 3.6 earnings per share 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 dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, May 23rd. This is a boost from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio is presently 48.40%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HNI. Susquehanna initiated coverage on HNI in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective on the stock. Longbow Research started coverage on shares of HNI in a research note on Friday, May 16th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

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.