GAMMA Investing LLC Purchases 237 Shares of HNI Corporation $HNI

GAMMA Investing LLC increased its position in HNI Corporation (NYSE:HNI) by 44.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774 shares of the business services provider’s stock after purchasing an additional 237 shares during the period. GAMMA Investing LLC’s holdings in HNI were worth $38,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in HNI in the 1st quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in HNI by 88.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. Quarry LP boosted its stake in HNI by 4,741.5% in the 1st quarter. Quarry LP now owns 1,985 shares of the business services provider’s stock worth $88,000 after purchasing an additional 1,944 shares in the last quarter. Allworth Financial LP boosted its stake 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 purchasing an additional 2,112 shares in the last quarter. Finally, Harbour Investments Inc. bought a new position in HNI in the 1st quarter worth about $107,000. Institutional investors own 75.26% of the company’s stock.

Insider Activity at HNI

In other news, Director Miguel M. Calado sold 1,743 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director owned 30,085 shares of the company’s stock, valued at $1,594,505. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of HNI in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.00.

HNI Price Performance

HNI opened at $46.96 on Friday. 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 $2.15 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.66 and a beta of 0.95. The company’s 50-day simple moving average is $45.74 and its two-hundred day simple moving average is $46.15. HNI Corporation has a 52-week low of $39.76 and a 52-week high of $58.42.

HNI (NYSE:HNI) last posted its 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. HNI had a net margin of 5.73% and a return on equity of 20.08%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $646.49 million. During the same quarter in the prior year, the business earned $0.79 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts predict that HNI Corporation will post 3.6 EPS for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.36 annualized dividend and a dividend yield of 2.9%. HNI’s dividend payout ratio is presently 44.16%.

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.