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

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

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of HNI by 649.1% during the fourth 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 in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of HNI during the fourth quarter worth approximately $55,000. Meeder Asset Management Inc. purchased a new position in shares of HNI in the fourth quarter worth $121,000. Tower Research Capital LLC TRC increased its stake in shares of HNI by 205.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,670 shares of the business services provider's stock worth $185,000 after buying an additional 2,470 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of HNI in the fourth quarter worth $224,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the transaction, the insider owned 36,711 shares in the company, valued at approximately $1,727,986.77. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director owned 31,828 shares in the company, valued at $1,591,400. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. 3.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HNI shares. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Susquehanna started coverage on shares of HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price on the stock. Finally, 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.

HNI Trading Down 1.5%

NYSE:HNI traded down $0.75 during trading hours on Friday, hitting $50.93. The company had a trading volume of 166,427 shares, compared to its average volume of 313,614. The company has a market capitalization of $2.37 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The stock has a 50-day moving average price of $48.53 and a 200 day moving average price of $46.78. HNI Corporation has a 52 week low of $39.76 and a 52 week high of $58.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.73.

HNI (NYSE:HNI - Get Free Report) last released its quarterly 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. The business had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. HNI had a net margin of 5.35% and a return on equity of 18.48%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, equities research analysts predict that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 23rd were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 2.67%. This is a boost from HNI's previous quarterly dividend of $0.33. HNI's payout ratio is 48.40%.

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.