Nordea Investment Management AB Boosts Stock Position in HNI Co. (NYSE:HNI)

Nordea Investment Management AB boosted its holdings in HNI Co. (NYSE:HNIFree Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,002 shares of the business services provider’s stock after purchasing an additional 9,329 shares during the period. Nordea Investment Management AB owned about 0.19% of HNI worth $4,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in HNI by 86.6% in the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 16,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of HNI in the first quarter valued at $245,000. Oxford Financial Group LTD. LLC raised its stake in shares of HNI by 58.0% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock valued at $2,170,000 after buying an additional 19,032 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of HNI in the fourth quarter valued at $3,906,000. Finally, KBC Group NV raised its stake in shares of HNI by 18.7% in the fourth quarter. KBC Group NV now owns 8,873 shares of the business services provider’s stock valued at $371,000 after buying an additional 1,397 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Insider Activity at HNI

In related news, VP Donna D. Meade sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $45.97, for a total transaction of $459,700.00. Following the sale, the vice president now directly owns 32,308 shares in the company, valued at approximately $1,485,198.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Marshall H. Bridges sold 8,551 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $45.50, for a total transaction of $389,070.50. Following the sale, the chief financial officer now directly owns 76,674 shares in the company, valued at approximately $3,488,667. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donna D. Meade sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $45.97, for a total value of $459,700.00. Following the sale, the vice president now owns 32,308 shares in the company, valued at $1,485,198.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,349 shares of company stock worth $931,479. 3.36% of the stock is owned by company insiders.

HNI Stock Performance

Shares of HNI opened at $44.18 on Wednesday. The firm has a market cap of $2.09 billion, a PE ratio of 32.73, a PEG ratio of 1.21 and a beta of 0.86. The stock’s fifty day moving average price is $44.88 and its two-hundred day moving average price is $43.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.77. HNI Co. has a 1 year low of $27.24 and a 1 year high of $47.60.

HNI (NYSE:HNIGet Free Report) last issued its earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.19. HNI had a return on equity of 17.75% and a net margin of 2.57%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts forecast that HNI Co. will post 3.1 EPS for the current year.

HNI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 23rd. HNI’s payout ratio is presently 97.78%.

Analysts Set New Price Targets

Separately, Benchmark boosted their target price on HNI from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th.

Read Our Latest Stock Analysis on HNI

HNI Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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