187,343 Shares in HNI Corporation $HNI Acquired by Nuveen LLC

Nuveen LLC purchased a new position in shares of HNI Corporation (NYSE:HNI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 187,343 shares of the business services provider’s stock, valued at approximately $8,309,000. Nuveen LLC owned approximately 0.40% of HNI as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HNI. Wells Fargo & Company MN grew its stake in shares of HNI by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 34,509 shares of the business services provider’s stock worth $1,738,000 after acquiring an additional 6,497 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of HNI during the 4th quarter worth approximately $245,000. Barclays PLC grew its stake in shares of HNI by 4.6% during the 4th quarter. Barclays PLC now owns 97,460 shares of the business services provider’s stock worth $4,909,000 after acquiring an additional 4,329 shares in the last quarter. First Trust Advisors LP grew its stake in shares of HNI by 273.3% during the 4th quarter. First Trust Advisors LP now owns 118,163 shares of the business services provider’s stock worth $5,952,000 after acquiring an additional 86,513 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of HNI by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider’s stock worth $81,786,000 after acquiring an additional 43,249 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Insider Buying and Selling at HNI

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the firm’s stock in a transaction 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 owned 36,711 shares of the company’s stock, valued at $1,727,986.77. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Miguel M. Calado sold 1,743 shares of the firm’s stock in a transaction 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 sale, the director directly owned 30,085 shares of the company’s stock, valued at $1,594,505. This represents a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,383 shares of company stock valued at $270,818 in the last ninety days. Insiders own 3.37% of the company’s stock.

Analysts Set New Price Targets

HNI has been the subject of several research reports. Susquehanna initiated coverage on shares of HNI in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 price target for the company. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Longbow Research assumed coverage on HNI in a report on Friday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, HNI has an average rating of “Moderate Buy” and an average price target of $75.00.

HNI Trading Up 3.1%

NYSE HNI opened at $44.8380 on Friday. The company has a market cap of $2.05 billion, a PE ratio of 14.56, a PEG ratio of 0.63 and a beta of 0.95. 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 Corporation has a 12 month low of $39.76 and a 12 month high of $58.42. The stock has a 50 day moving average of $48.50 and a 200-day moving average of $46.35.

HNI (NYSE:HNI) last released its quarterly earnings data 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 company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $646.49 million. HNI had a return on equity of 20.08% and a net margin of 5.73%.The firm’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 posted $0.79 EPS. On average, equities research analysts anticipate that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.36 annualized dividend and a yield of 3.0%. HNI’s dividend payout ratio (DPR) 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.