The Manufacturers Life Insurance Company Takes Position in HNI Corporation $HNI

Key Points

• The Manufacturers Life Insurance Company acquired 34,637 HNI shares worth approximately $1.4 million, while institutional investors collectively own 75.26% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $65. HNI recently beat quarterly EPS estimates, reporting $1.27 versus the expected $1.04, while revenue increased 120.7% year over year.
• HNI announced a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 2.8% yield. The CEO also sold 1,504 shares at an average price of $50 under a pre-arranged Rule 10b5-1 plan.

The Manufacturers Life Insurance Company bought a new position in shares of HNI Corporation (NYSE:HNI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,637 shares of the business services provider's stock, valued at approximately $1,400,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HNI. Triumph Capital Management purchased a new position in shares of HNI during the 3rd quarter worth $28,000. AQR Capital Management LLC increased its stake in HNI by 6.3% in the first quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider's stock valued at $600,000 after purchasing an additional 802 shares during the last quarter. Allworth Financial LP purchased a new position in HNI during the second quarter worth about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in HNI by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,239 shares of the business services provider's stock worth $1,252,000 after buying an additional 1,290 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in HNI by 20.5% in the 1st quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider's stock worth $383,000 after buying an additional 1,472 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company set a $65.00 price objective on shares of HNI in a report on Wednesday, July 15th. Benchmark reaffirmed a "buy" rating on shares of HNI in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of HNI from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Insider Activity at HNI

In related news, CEO Jeffrey Lorenger sold 1,504 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $50.00, for a total transaction of $75,200.00. Following the transaction, the chief executive officer directly owned 148,490 shares of the company's stock, valued at approximately $7,424,500. The trade was a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 95,138 shares of company stock worth $4,648,587. Company insiders own 2.15% of the company's stock.

HNI Price Performance

HNI stock opened at $49.53 on Friday. The firm has a fifty day moving average of $45.02 and a 200-day moving average of $39.41. HNI Corporation has a 52-week low of $28.93 and a 52-week high of $52.79. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.58 billion, a P/E ratio of 550.39, a PEG ratio of 0.57 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.23. HNI had a net margin of 0.10% and a return on equity of 13.66%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the company earned $1.11 EPS. The firm's revenue was up 120.7% on a year-over-year basis. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. As a group, analysts predict that HNI Corporation will post 4.24 EPS for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. HNI's dividend payout ratio (DPR) is 1,555.56%.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI's Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.

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