Farther Finance Advisors LLC Has $37,000 Stock Position in HNI Corporation $HNI

Farther Finance Advisors LLC lowered its stake in HNI Corporation (NYSE:HNI) by 31.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 759 shares of the business services provider’s stock after selling 353 shares during the quarter. Farther Finance Advisors LLC’s holdings in HNI were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HNI. Federated Hermes Inc. acquired a new stake in shares of HNI in the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $31,000 after acquiring an additional 331 shares during the last quarter. Quarry LP increased its position in shares of HNI by 4,741.5% in the first quarter. Quarry LP now owns 1,985 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,944 shares during the last quarter. Allworth Financial LP grew its holdings in HNI by 3,984.9% during the first 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 during the period. Finally, Harbour Investments Inc. bought a new position in HNI during the first quarter worth about $107,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Buying and Selling

In other HNI news, Director Miguel M. Calado sold 1,743 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 30,085 shares in the company, valued at $1,594,505. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of HNI in a report 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 data from MarketBeat.com, HNI presently has an average rating of “Hold” and a consensus price target of $75.00.

HNI Trading Down 1.7%

Shares of HNI stock opened at $45.79 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. The stock has a market cap of $2.10 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The stock has a 50 day simple moving average of $45.50 and a 200 day simple moving average of $46.19. HNI Corporation has a 1 year low of $39.76 and a 1 year high of $58.42.

HNI (NYSE:HNI) last issued its quarterly 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. The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that HNI Corporation will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 22nd. HNI’s payout ratio is currently 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.