Versor Investments LP Invests $271,000 in HNI Corporation $HNI

Key Points

• Versor Investments LP has made a new investment of approximately $271,000 in HNI Corporation, acquiring 6,100 shares during the first quarter.
• HNI Corporation reported $1.11 earnings per share for the last quarter, exceeding the consensus estimate of $0.86, along with a 7% rise in revenue year-over-year.
• The company declared a quarterly dividend of $0.34 per share, resulting in an annualized dividend yield of 3.1% and a payout ratio of 44.16%.

Versor Investments LP acquired a new stake in HNI Corporation (NYSE:HNI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,100 shares of the business services provider's stock, valued at approximately $271,000.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in HNI during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its position in HNI by 88.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock worth $31,000 after buying an additional 331 shares during the period. Sterling Capital Management LLC increased 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 buying an additional 701 shares during the period. Allworth Financial LP increased its position 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 worth $92,000 after buying an additional 2,112 shares during the period. Finally, Harbour Investments Inc. bought a new position in HNI during the 1st quarter worth $107,000. Institutional investors own 75.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on HNI shares. Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Longbow Research started coverage on HNI in a report on Friday, May 16th. They set a "buy" rating and a $70.00 target price on the stock. Finally, Susquehanna started coverage on HNI in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, HNI presently has an average rating of "Moderate Buy" and an average target price of $75.00.

HNI Price Performance

NYSE:HNI traded up $0.20 during trading hours on Wednesday, hitting $44.93. The company's stock had a trading volume of 650,031 shares, compared to its average volume of 945,693. The stock has a fifty day simple moving average of $48.37 and a 200-day simple moving average of $46.29. The company has a market capitalization of $2.06 billion, a P/E ratio of 14.59, a PEG ratio of 0.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. HNI Corporation has a twelve month low of $39.76 and a twelve month high of $58.42.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.25. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $646.49 million. HNI had a return on equity of 20.08% and a net margin of 5.73%.HNI's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. HNI's dividend payout ratio is 44.16%.

Insider Buying and Selling at HNI

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,727,986.77. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miguel M. Calado sold 2,000 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the sale, the director owned 31,828 shares in the company, valued at approximately $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. Insiders have sold 5,383 shares of company stock valued at $270,818 over the last quarter. Company insiders own 3.37% of the company's stock.

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.