5,425 Shares in HNI Co. (NYSE:HNI) Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. acquired a new position in HNI Co. (NYSE:HNI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,425 shares of the business services provider’s stock, valued at approximately $245,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in HNI during the fourth quarter worth approximately $25,000. FinTrust Capital Advisors LLC bought a new stake in HNI during the fourth quarter worth approximately $42,000. Northwest Financial Advisors bought a new stake in HNI during the fourth quarter worth approximately $134,000. Hsbc Holdings PLC bought a new stake in HNI during the third quarter worth approximately $207,000. Finally, Cornerstone Investment Partners LLC bought a new stake in HNI during the fourth quarter worth approximately $216,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Stock Down 0.7 %

HNI opened at $44.86 on Friday. HNI Co. has a 1-year low of $27.24 and a 1-year high of $47.60. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 1.21 and a beta of 0.86. The business has a 50 day moving average of $44.76 and a 200-day moving average of $43.26.

HNI (NYSE:HNI) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. The company had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. HNI’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, sell-side analysts anticipate that HNI Co. will post 3.1 earnings per share for the current year.

HNI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 23rd. HNI’s dividend payout ratio is presently 97.78%.

Insider Activity at HNI

In related news, CFO Marshall H. Bridges sold 8,551 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $45.50, for a total value of $389,070.50. Following the completion of the transaction, the chief financial officer now directly owns 76,674 shares in the company, valued at $3,488,667. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Marshall H. Bridges sold 8,551 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $45.50, for a total value of $389,070.50. Following the completion of the transaction, the chief financial officer now directly owns 76,674 shares in the company, valued at $3,488,667. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donna D. Meade sold 10,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $45.97, for a total value of $459,700.00. Following the transaction, the vice president now owns 32,308 shares of the company’s stock, valued at $1,485,198.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,349 shares of company stock worth $931,479. 3.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th. Benchmark increased their price objective on HNI from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th.

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.