Vanguard Group Inc. Sells 141,464 Shares of HNI Corporation $HNI

Vanguard Group Inc. trimmed its stake in HNI Corporation (NYSE:HNI) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,576,550 shares of the business services provider’s stock after selling 141,464 shares during the period. Vanguard Group Inc. owned about 11.86% of HNI worth $247,320,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in shares of HNI during the first quarter worth $365,000. Harbour Investments Inc. bought a new stake in shares of HNI during the first quarter worth $107,000. Federated Hermes Inc. bought a new stake in shares of HNI during the first quarter worth $26,000. Meeder Asset Management Inc. grew its holdings in shares of HNI by 68.0% during the first quarter. Meeder Asset Management Inc. now owns 4,026 shares of the business services provider’s stock worth $179,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of HNI by 55.3% during the first quarter. Inspire Advisors LLC now owns 54,913 shares of the business services provider’s stock worth $2,435,000 after purchasing an additional 19,549 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

HNI Price Performance

HNI stock opened at $43.54 on Tuesday. The business’s 50-day simple moving average is $48.78 and its 200 day simple moving average is $46.45. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 0.62 and a beta of 0.95. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56.

HNI (NYSE:HNI) last posted its quarterly earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.25. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $646.49 million. HNI had a return on equity of 20.08% and a net margin of 5.73%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. As a group, research analysts anticipate that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The company also recently declared 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 is Friday, August 22nd. This represents a $1.36 annualized dividend and a yield of 3.1%. HNI’s dividend payout ratio (DPR) is currently 44.16%.

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 stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Miguel M. Calado sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the transaction, the director owned 31,828 shares in the company, valued at approximately $1,591,400. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,383 shares of company stock worth $270,818. 3.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.