Yousif Capital Management LLC Sells 393 Shares of HNI Corporation (NYSE:HNI)

Yousif Capital Management LLC trimmed its stake in HNI Corporation (NYSE:HNI) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,761 shares of the business services provider’s stock after selling 393 shares during the quarter. Yousif Capital Management LLC’s holdings in HNI were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of HNI by 85.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock worth $28,000 after acquiring an additional 258 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of HNI by 8.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,967 shares of the business services provider’s stock worth $250,000 after purchasing an additional 376 shares during the period. Graham Capital Management L.P. increased 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 worth $850,000 after acquiring an additional 395 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of HNI by 8.0% in the 4th quarter. Bank of Montreal Can now owns 9,401 shares of the business services provider’s stock valued at $474,000 after acquiring an additional 700 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 701 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Stock Performance

Shares of HNI stock opened at $46.90 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $45.22 and its 200-day moving average price is $47.18. The stock has a market cap of $2.18 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. HNI Corporation has a 12 month low of $39.76 and a 12 month high of $58.42.

HNI (NYSE:HNI) last released its earnings results on Wednesday, May 7th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $599.80 million for the quarter, compared to the consensus estimate of $580.47 million. HNI had a return on equity of 18.48% and a net margin of 5.35%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities analysts expect that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, May 23rd. This is an increase from HNI’s previous quarterly dividend of $0.33. HNI’s dividend payout ratio (DPR) is presently 48.40%.

Insider Buying and Selling at HNI

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $47.07, for a total transaction of $67,780.80. Following the sale, the insider now directly owns 36,711 shares in the company, valued at $1,727,986.77. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Susquehanna began coverage on HNI in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Longbow Research started coverage on HNI in a research report on Friday, May 16th. They set a “buy” rating and a $70.00 price target for the company.

HNI Company 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.