Charles Schwab Investment Management Inc. Lowers Holdings in HNI Corporation $HNI

Charles Schwab Investment Management Inc. decreased its stake in shares of HNI Corporation (NYSE:HNI) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 772,273 shares of the business services provider’s stock after selling 23,999 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.64% of HNI worth $34,250,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in HNI by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider’s stock valued at $81,786,000 after buying an additional 43,249 shares during the last quarter. Systematic Financial Management LP raised its stake in HNI by 1.8% during the fourth quarter. Systematic Financial Management LP now owns 474,140 shares of the business services provider’s stock valued at $23,882,000 after buying an additional 8,303 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in HNI by 33.3% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 444,000 shares of the business services provider’s stock valued at $22,364,000 after buying an additional 111,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of HNI by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 258,055 shares of the business services provider’s stock worth $11,445,000 after purchasing an additional 7,874 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of HNI by 1.8% in the 1st quarter. Victory Capital Management Inc. now owns 230,453 shares of the business services provider’s stock worth $10,221,000 after purchasing an additional 4,158 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analyst Ratings Changes

HNI has been the subject of a number of research analyst reports. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Susquehanna initiated coverage on HNI in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, Longbow Research initiated coverage on HNI in a report on Friday, May 16th. They issued a “buy” rating and a $70.00 target price for the company.

HNI Stock Down 1.0%

HNI stock opened at $43.54 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.62 and a beta of 0.95. The stock has a fifty day simple moving average of $48.78 and a two-hundred day simple moving average of $46.45. HNI Corporation has a 12 month low of $39.76 and a 12 month high of $58.42. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56.

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

HNI Dividend Announcement

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

Insider Buying and Selling at HNI

In related news, insider Jason Dean Hagedorn sold 1,440 shares of HNI stock in a transaction on Friday, June 13th. The stock was 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 of the company’s stock, valued at $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Miguel M. Calado sold 1,743 shares of HNI stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $53.00, for a total value of $92,379.00. Following the completion of the sale, the director directly 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 5,383 shares of company stock valued at $270,818 in the last ninety days. 3.37% of the stock is currently owned by corporate insiders.

About HNI

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.