Free Trial

Teacher Retirement System of Texas Invests $455,000 in HNI Corporation (NYSE:HNI)

HNI logo with Business Services background

Teacher Retirement System of Texas purchased a new stake in shares of HNI Corporation (NYSE:HNI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,258 shares of the business services provider's stock, valued at approximately $455,000.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in HNI in the fourth quarter valued at about $245,000. Natixis Advisors LLC bought a new stake in shares of HNI during the 4th quarter worth about $745,000. Royce & Associates LP bought a new stake in shares of HNI during the 4th quarter worth about $395,000. Cibc World Markets Corp bought a new stake in shares of HNI during the 4th quarter worth about $224,000. Finally, Xponance Inc. bought a new stake in shares of HNI during the 4th quarter worth about $249,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HNI

In other HNI news, Director Miguel M. Calado sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the completion of the transaction, the director owned 31,828 shares of the company's stock, valued at $1,591,400. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 3.37% of the company's stock.

HNI Stock Performance

NYSE:HNI traded down $0.27 during mid-day trading on Monday, hitting $50.71. 162,062 shares of the company's stock traded hands, compared to its average volume of 313,795. The firm has a 50 day moving average of $48.53 and a two-hundred day moving average of $46.74. HNI Corporation has a 12 month low of $39.76 and a 12 month high of $58.42. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45.

HNI (NYSE:HNI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.09. HNI had a return on equity of 18.48% and a net margin of 5.35%. The firm had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. During the same quarter in the prior year, the company earned $0.37 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that HNI Corporation will post 3.6 earnings per share for the current fiscal year.

HNI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were issued a $0.34 dividend. This is a boost from HNI's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 2.68%. HNI's dividend payout ratio is 48.40%.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on HNI

HNI Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for HNI (NYSE:HNI)

Should You Invest $1,000 in HNI Right Now?

Before you consider HNI, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and HNI wasn't on the list.

While HNI currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Overlooked Stocks Riding the AI Data Center Boom
3 Growth Stock Winners to Watch And 3 to Avoid
3 Growth Stocks That Could Pop Before Summer Ends

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines