Strs Ohio Acquires New Position in HNI Corporation $HNI

Key Points

• Strs Ohio acquired a new position in HNI Corporation, purchasing 14,900 shares valued at approximately $661,000 during the first quarter.
• HNI Corporation reported $1.11 earnings per share (EPS) for the last quarter, exceeding estimates and marking a 7.0% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.34 per share, reflecting a 3.0% dividend yield for investors.

Strs Ohio acquired a new stake in shares of HNI Corporation (NYSE:HNI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 14,900 shares of the business services provider's stock, valued at approximately $661,000.

Several other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in HNI during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of HNI by 88.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock valued at $31,000 after buying an additional 331 shares during the period. Quarry LP increased its position in HNI by 4,741.5% during the first quarter. Quarry LP now owns 1,985 shares of the business services provider's stock worth $88,000 after purchasing an additional 1,944 shares during the last quarter. Allworth Financial LP grew its holdings in HNI by 3,984.9% during the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock valued at $92,000 after purchasing an additional 2,112 shares in the last quarter. Finally, Harbour Investments Inc. acquired a new position in HNI during the 1st quarter worth $107,000. Hedge funds and other institutional investors own 75.26% of the company's stock.

Insider Transactions at HNI

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

HNI Stock Performance

Shares of HNI opened at $45.51 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 stock has a market capitalization of $2.08 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.64 and a beta of 0.94. The firm's 50 day moving average is $46.82 and its 200-day moving average is $46.01. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly 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 firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $646.49 million. HNI had a net margin of 5.73% and a return on equity of 20.08%. The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Equities research analysts anticipate that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

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

About HNI

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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