HNI Co. (NYSE:HNI) Position Increased by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of HNI Co. (NYSE:HNI) by 5.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,218 shares of the business services provider’s stock after buying an additional 4,770 shares during the period. American Century Companies Inc. owned 0.19% of HNI worth $3,972,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of HNI in the second quarter valued at about $29,000. Arizona State Retirement System grew its position in shares of HNI by 3.4% in the second quarter. Arizona State Retirement System now owns 13,237 shares of the business services provider’s stock valued at $596,000 after purchasing an additional 436 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of HNI in the second quarter valued at about $1,286,000. Versor Investments LP grew its position in shares of HNI by 5.2% in the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 400 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of HNI in the second quarter valued at about $2,189,000. 75.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Steven M. Bradford sold 2,380 shares of HNI stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $48.03, for a total value of $114,311.40. Following the completion of the transaction, the vice president now owns 61,642 shares in the company, valued at $2,960,665.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Marshall H. Bridges sold 4,138 shares of HNI stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.50, for a total value of $221,383.00. Following the completion of the transaction, the chief financial officer now owns 78,346 shares in the company, valued at $4,191,511. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven M. Bradford sold 2,380 shares of HNI stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $48.03, for a total transaction of $114,311.40. Following the completion of the transaction, the vice president now owns 61,642 shares of the company’s stock, valued at approximately $2,960,665.26. The disclosure for this sale can be found here. Insiders sold a total of 134,029 shares of company stock worth $6,766,593 over the last quarter. Company insiders own 3.36% of the company’s stock.

HNI Stock Down 1.6 %

Shares of HNI opened at $51.82 on Thursday. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 1.38 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. HNI Co. has a 12 month low of $32.70 and a 12 month high of $56.13. The company has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $46.99.

HNI (NYSE:HNI) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.18. The firm had revenue of $623.70 million during the quarter, compared to analysts’ expectations of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities analysts predict that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, August 23rd. HNI’s dividend payout ratio is 97.78%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HNI. Benchmark raised their price target on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th.

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.