Deutsche Bank AG Decreases Stock Holdings in HNI Corporation $HNI

Deutsche Bank AG decreased its holdings in HNI Corporation (NYSE:HNI) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,325 shares of the business services provider’s stock after selling 3,811 shares during the quarter. Deutsche Bank AG owned 0.08% of HNI worth $1,655,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. purchased a new position in HNI in the 1st quarter worth about $26,000. Sterling Capital Management LLC raised its position in HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock worth $41,000 after buying an additional 701 shares during the last quarter. Allworth Financial LP raised its position in HNI by 3,984.9% in 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 last quarter. Harbour Investments Inc. purchased a new position in HNI in the 1st quarter worth about $107,000. Finally, Meeder Asset Management Inc. raised its position in HNI by 68.0% in the 1st quarter. Meeder Asset Management Inc. now owns 4,026 shares of the business services provider’s stock worth $179,000 after buying an additional 1,629 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HNI. Susquehanna began coverage on HNI in a research report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price for the company. Longbow Research initiated coverage on shares of HNI in a research report on Friday, May 16th. They set a “buy” rating and a $70.00 price target for the company. Finally, Wall Street Zen raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insider Activity at HNI

In related news, Director Miguel M. Calado sold 1,743 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were 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 approximately $1,594,505. This represents a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the completion of the sale, the insider directly owned 36,711 shares of the company’s stock, valued at $1,727,986.77. This represents a 3.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,383 shares of company stock valued at $270,818 over the last three months. 3.37% of the stock is currently owned by insiders.

HNI Price Performance

NYSE HNI opened at $44.8380 on Friday. HNI Corporation has a 52 week low of $39.76 and a 52 week high of $58.42. The firm has a market capitalization of $2.05 billion, a P/E ratio of 14.56, a PEG ratio of 0.61 and a beta of 0.95. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $48.50 and a 200-day moving average price of $46.37.

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

HNI Dividend Announcement

The company also recently announced 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. This represents a $1.36 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 22nd. HNI’s dividend payout ratio is currently 44.16%.

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.