6,100 Shares in HNI Corporation $HNI Acquired by Versor Investments LP

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 bought 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 SEC. The institutional investor bought 6,100 shares of the business services provider's stock, valued at approximately $271,000.

Several other hedge funds have also modified their holdings of HNI. Caitong International Asset Management Co. Ltd lifted its stake in HNI by 88.5% in the 1st 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 in the last quarter. Graham Capital Management L.P. lifted its stake in HNI by 2.4% in the 4th quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider's stock valued at $850,000 after buying an additional 395 shares in the last quarter. Federated Hermes Inc. purchased a new position in HNI in the 1st quarter valued at about $26,000. Sterling Capital Management LLC lifted its stake in HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after buying an additional 701 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in HNI by 9.2% in the 1st quarter. Diversified Trust Co now owns 9,447 shares of the business services provider's stock valued at $419,000 after buying an additional 794 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Price Performance

HNI stock traded up $0.35 during mid-day trading on Tuesday, reaching $44.79. The company's stock had a trading volume of 355,791 shares, compared to its average volume of 400,906. The stock has a market cap of $2.05 billion, a PE ratio of 14.54, a P/E/G ratio of 0.63 and a beta of 0.95. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The company's 50 day moving average is $48.45 and its two-hundred day moving average is $46.31.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.25. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $646.49 million. HNI had a net margin of 5.73% and a return on equity of 20.08%. HNI's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. Equities research analysts expect that HNI Corporation will post 3.6 EPS for the current year.

HNI Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.0%. HNI's dividend payout ratio (DPR) is currently 44.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HNI. Longbow Research began coverage on shares of HNI in a research note on Friday, May 16th. They issued a "buy" rating and a $70.00 price target on the stock. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Susquehanna assumed coverage on shares of HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Insider Buying and Selling

In other news, Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director owned 30,085 shares in the company, valued at $1,594,505. This trade represents a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Dean Hagedorn sold 1,440 shares of the firm'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 sale, the insider owned 36,711 shares of the company's stock, valued at $1,727,986.77. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,383 shares of company stock valued at $270,818 in the last 90 days. 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.