Teacher Retirement System of Texas Purchases Shares of 10,258 HNI Corporation (NYSE:HNI)

Teacher Retirement System of Texas purchased a new stake in HNI Corporation (NYSE:HNI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,258 shares of the business services provider’s stock, valued at approximately $455,000.

Several other large investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of HNI during the fourth quarter worth $245,000. Natixis Advisors LLC acquired a new stake in shares of HNI during the 4th quarter valued at approximately $745,000. Royce & Associates LP acquired a new stake in shares of HNI during the 4th quarter valued at approximately $395,000. Cibc World Markets Corp purchased a new position in shares of HNI in the fourth quarter valued at $224,000. Finally, Xponance Inc. purchased a new position in shares of HNI in the fourth quarter valued at $249,000. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Trading Up 1.6%

NYSE:HNI opened at $51.72 on Friday. The business has a fifty day moving average of $48.47 and a 200-day moving average of $46.78. HNI Corporation has a 1 year low of $39.76 and a 1 year high of $58.42. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19.

HNI (NYSE:HNI) last released its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. HNI had a return on equity of 18.48% and a net margin of 5.35%. The business had revenue of $599.80 million during the quarter, compared to analyst estimates of $580.47 million. During the same quarter last year, the company posted $0.37 EPS. HNI’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that HNI Corporation will post 3.6 earnings per share 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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from HNI’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 23rd. HNI’s dividend payout ratio (DPR) is presently 48.40%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Miguel M. Calado sold 2,000 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the sale, the director owned 31,828 shares of the company’s stock, valued at $1,591,400. The trade was a 5.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Dean Hagedorn sold 1,440 shares of the business’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 completion of the sale, the insider directly owned 36,711 shares in the company, valued at approximately $1,727,986.77. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. 3.37% of the stock is currently owned by company insiders.

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.