Millburn Ridgefield Corp bought a new position in shares of HNI Co. (NYSE:HNI – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,531 shares of the business services provider’s stock, valued at approximately $244,000.
A number of other large investors also recently modified their holdings of HNI. Cetera Advisors LLC lifted its stake in HNI by 18.0% during the 1st quarter. Cetera Advisors LLC now owns 7,779 shares of the business services provider’s stock valued at $351,000 after acquiring an additional 1,187 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in HNI by 60.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,710 shares of the business services provider’s stock worth $392,000 after purchasing an additional 3,285 shares during the last quarter. Summit Global Investments purchased a new position in HNI during the second quarter worth about $1,114,000. SummerHaven Investment Management LLC grew its position in HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 338 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in HNI by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the business services provider’s stock valued at $1,071,000 after buying an additional 700 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.
Insiders Place Their Bets
In related news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.36% of the company’s stock.
HNI Price Performance
HNI opened at $56.80 on Wednesday. HNI Co. has a fifty-two week low of $39.30 and a fifty-two week high of $58.42. The firm has a 50-day moving average of $53.83 and a 200 day moving average of $50.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The firm has a market cap of $2.72 billion, a P/E ratio of 22.02, a PEG ratio of 1.63 and a beta of 0.88.
HNI (NYSE:HNI – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. During the same quarter last year, the business posted $0.93 EPS. HNI’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts expect that HNI Co. will post 2.93 EPS for the current year.
HNI Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Monday, November 18th. HNI’s dividend payout ratio is currently 51.16%.
HNI 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.
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