HNI Corporation $HNI Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its holdings in HNI Corporation (NYSE:HNI) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,751 shares of the business services provider’s stock after selling 1,799 shares during the quarter. Hsbc Holdings PLC’s holdings in HNI were worth $344,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in HNI in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in HNI by 88.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock worth $31,000 after acquiring an additional 331 shares in the last quarter. Allworth Financial LP boosted its holdings in HNI by 3,984.9% in the first quarter. Allworth Financial LP now owns 2,165 shares of the business services provider’s stock worth $92,000 after acquiring an additional 2,112 shares in the last quarter. Harbour Investments Inc. acquired a new stake in HNI in the first quarter worth about $107,000. Finally, Meeder Asset Management Inc. lifted 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 period. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Trading Up 1.2%

Shares of NYSE:HNI opened at $45.49 on Thursday. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The company has a market capitalization of $2.08 billion, a PE ratio of 14.77, a PEG ratio of 0.63 and a beta of 0.94. The business has a 50 day moving average of $48.13 and a two-hundred day moving average of $46.15. 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 announced its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.25. The business 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 business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. As a group, analysts forecast that HNI Corporation will post 3.6 EPS for the current year.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 22nd. HNI’s dividend payout ratio is presently 44.16%.

Analyst Ratings Changes

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

Insider Activity at HNI

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the company’s 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Miguel M. Calado sold 2,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 31,828 shares of the company’s stock, valued at approximately $1,591,400. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,383 shares of company stock valued at $270,818. Corporate insiders own 3.37% of the company’s stock.

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.