Cetera Investment Advisers Has $460,000 Stock Position in HNI Corporation $HNI

Cetera Investment Advisers decreased its holdings in shares of HNI Corporation (NYSE:HNI) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,382 shares of the business services provider’s stock after selling 3,057 shares during the quarter. Cetera Investment Advisers’ holdings in HNI were worth $460,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Royce & Associates LP increased its stake in shares of HNI by 140.2% during the 1st quarter. Royce & Associates LP now owns 18,811 shares of the business services provider’s stock worth $834,000 after purchasing an additional 10,978 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of HNI by 1.8% during the 1st quarter. Victory Capital Management Inc. now owns 230,453 shares of the business services provider’s stock worth $10,221,000 after buying an additional 4,158 shares during the period. Larson Financial Group LLC boosted its holdings in shares of HNI by 35.0% during the 1st quarter. Larson Financial Group LLC now owns 38,558 shares of the business services provider’s stock worth $1,710,000 after buying an additional 10,000 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of HNI by 14.0% during the 1st quarter. New York State Common Retirement Fund now owns 16,276 shares of the business services provider’s stock worth $722,000 after buying an additional 2,000 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of HNI by 3,984.9% during the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider’s stock worth $92,000 after buying an additional 2,112 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Price Performance

Shares of HNI stock opened at $43.98 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The firm has a fifty day moving average price of $48.87 and a two-hundred day moving average price of $46.50. The company has a market cap of $2.01 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.62 and a beta of 0.95.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.25. HNI had a net margin of 5.73% and a return on equity of 20.08%. The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $646.49 million. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Analysts expect that HNI Corporation will post 3.6 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 22nd. HNI’s dividend payout ratio (DPR) is presently 44.16%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Susquehanna assumed coverage on shares of HNI in a report on Friday, May 16th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Longbow Research assumed coverage on shares of HNI in a report on Friday, May 16th. They set a “buy” rating and a $70.00 price objective for the company.

Insider Activity

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the firm’s stock in a transaction dated 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 owned 36,711 shares in the company, valued at approximately $1,727,986.77. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Miguel M. Calado sold 1,743 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director owned 30,085 shares of the company’s stock, valued at $1,594,505. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,383 shares of company stock valued at $270,818 in the last 90 days. Corporate insiders own 3.37% of the company’s stock.

HNI 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.