State of Wyoming Reduces Position in HNI Corporation $HNI

State of Wyoming lessened its holdings in shares of HNI Corporation (NYSE:HNI) by 44.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,126 shares of the business services provider’s stock after selling 909 shares during the period. State of Wyoming’s holdings in HNI were worth $50,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Northern Trust Corp grew its stake in HNI by 0.9% during the 1st quarter. Northern Trust Corp now owns 2,204,982 shares of the business services provider’s stock valued at $97,791,000 after acquiring an additional 19,287 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of HNI by 1.8% in the 4th 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 period. Principal Financial Group Inc. grew its stake 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 valued at $11,445,000 after buying an additional 7,874 shares during the period. Jane Street Group LLC purchased a new stake in shares of HNI in the 1st quarter valued at approximately $10,301,000. Finally, Victory Capital Management Inc. grew its stake 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 valued at $10,221,000 after buying an additional 4,158 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI Stock Performance

NYSE:HNI opened at $45.56 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a market capitalization of $2.09 billion, a P/E ratio of 14.79, a PEG ratio of 0.66 and a beta of 0.94. The company has a 50 day moving average price of $47.85 and a 200 day moving average price of $46.06. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42.

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

HNI Dividend Announcement

The business 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. The ex-dividend date is Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.0%. HNI’s dividend payout ratio (DPR) is 44.16%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HNI shares. Longbow Research started coverage on HNI in a research report on Friday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. Wall Street Zen upgraded HNI from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Susquehanna started coverage on HNI in a research report on Friday, May 16th. They issued a “neutral” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Insider Buying and Selling at HNI

In other news, insider Jason Dean Hagedorn sold 1,440 shares of HNI 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 sale, the insider owned 36,711 shares in the company, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Miguel M. Calado sold 1,743 shares of HNI stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $53.00, for a total value of $92,379.00. Following the sale, the director owned 30,085 shares in the company, valued at $1,594,505. This trade represents a 5.48% decrease in their position. 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.

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.