Thrivent Financial For Lutherans raised its position in shares of HNI Corporation (NYSE:HNI) by 9.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,380 shares of the business services provider’s stock after buying an additional 730 shares during the period. Thrivent Financial For Lutherans’ holdings in HNI Corporation were worth $386,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of HNI Corporation by 44.7% in the first quarter. Legal & General Group Plc now owns 31,643 shares of the business services provider’s stock worth $1,455,000 after buying an additional 9,777 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of HNI Corporation during the first quarter worth approximately $221,000. Royce & Associates LP boosted its stake in shares of HNI Corporation by 12.6% in the first quarter. Royce & Associates LP now owns 383,594 shares of the business services provider’s stock worth $17,680,000 after buying an additional 43,010 shares during the last quarter. Edge Asset Management Inc. boosted its stake in shares of HNI Corporation by 17.0% in the first quarter. Edge Asset Management Inc. now owns 279,422 shares of the business services provider’s stock worth $12,877,000 after buying an additional 40,593 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of HNI Corporation by 29.2% in the first quarter. Principal Financial Group Inc. now owns 964,292 shares of the business services provider’s stock worth $44,445,000 after buying an additional 217,977 shares during the last quarter. Institutional investors own 73.11% of the company’s stock.
HNI Corporation (HNI) traded up 0.40% during mid-day trading on Friday, reaching $35.05. 245,644 shares of the company were exchanged. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 25.18 and a beta of 1.41. HNI Corporation has a one year low of $34.60 and a one year high of $56.96. The stock has a 50 day moving average of $37.77 and a 200-day moving average of $43.07.
HNI Corporation (NYSE:HNI) last released its earnings results on Monday, July 24th. The business services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by $0.01. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The company had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $516.10 million. During the same period last year, the firm posted $0.68 EPS. HNI Corporation’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts expect that HNI Corporation will post $2.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Wednesday, August 16th. HNI Corporation’s dividend payout ratio (DPR) is presently 81.43%.
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A number of brokerages recently commented on HNI. BidaskClub cut shares of HNI Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday. TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $47.00.
In other news, Chairman Stanley A. Askren sold 11,264 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the transaction, the chairman now owns 204,996 shares of the company’s stock, valued at $9,431,865.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.16% of the stock is currently owned by insiders.
About HNI Corporation
HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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