16,575 Shares in HNI Corporation (NYSE:HNI) Acquired by SG Americas Securities LLC

SG Americas Securities LLC purchased a new position in shares of HNI Corporation (NYSE:HNI) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 16,575 shares of the business services provider’s stock, valued at approximately $735,000.

A number of other institutional investors have also added to or reduced their stakes in HNI. Smartleaf Asset Management LLC boosted its holdings in shares of HNI by 85.1% in 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 during the period. Summit Investment Advisors Inc. lifted its stake in HNI by 8.2% during 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 last quarter. Graham Capital Management L.P. lifted its stake in HNI by 2.4% during the fourth quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider’s stock worth $850,000 after purchasing an additional 395 shares during the last quarter. Bank of Montreal Can lifted its stake in HNI by 8.0% during the fourth quarter. Bank of Montreal Can now owns 9,401 shares of the business services provider’s stock worth $474,000 after purchasing an additional 700 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of 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 acquiring an additional 701 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 value of $67,780.80. Following the sale, the insider now directly owns 36,711 shares in the company, valued at approximately $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 can be accessed through this link. 3.37% of the stock is currently owned by corporate insiders.

HNI Price Performance

Shares of HNI opened at $46.32 on Friday. The firm has a market capitalization of $2.16 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.19 and a quick ratio of 0.73. HNI Corporation has a 1-year low of $39.76 and a 1-year high of $58.42. The company’s fifty day moving average price is $45.30 and its 200-day moving average price is $47.10.

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

HNI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from HNI’s previous quarterly dividend of $0.33. HNI’s dividend payout ratio (DPR) is presently 48.40%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HNI shares. Susquehanna assumed coverage on HNI in a report on Friday, May 16th. They set a “neutral” rating and a $80.00 price target on the stock. Wall Street Zen upgraded HNI from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, Longbow Research initiated coverage on HNI in a report on Friday, May 16th. They set a “buy” rating and a $70.00 price target on the stock.

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.