HNI Co. (NYSE:HNI) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP cut its position in shares of HNI Co. (NYSE:HNI) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 436,744 shares of the business services provider’s stock after selling 39,509 shares during the quarter. Systematic Financial Management LP owned 0.92% of HNI worth $19,662,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. grew its holdings in HNI by 184.7% during the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after acquiring an additional 66,387 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of HNI by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock worth $1,840,000 after purchasing an additional 544 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of HNI by 30.4% in the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock worth $2,163,000 after purchasing an additional 11,168 shares in the last quarter. Oxford Financial Group LTD. LLC raised its holdings in shares of HNI by 58.0% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock worth $2,170,000 after purchasing an additional 19,032 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in HNI by 86.6% during the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock valued at $1,618,000 after purchasing an additional 16,646 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

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

HNI Price Performance

HNI stock opened at $52.56 on Friday. HNI Co. has a one year low of $32.70 and a one year high of $56.13. The firm has a 50-day moving average of $51.95 and a two-hundred day moving average of $47.10. The firm has a market capitalization of $2.49 billion, a PE ratio of 38.93, a P/E/G ratio of 1.38 and a beta of 0.85. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53.

HNI (NYSE:HNI) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The business had revenue of $623.70 million during the quarter, compared to the consensus estimate of $637.74 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that HNI Co. will post 3.17 earnings per share for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.51%. HNI’s dividend payout ratio is 97.78%.

Insider Activity at HNI

In other HNI news, Director Miguel M. Calado sold 5,299 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the completion of the sale, the director now directly owns 31,159 shares in the company, valued at approximately $1,650,180.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $49.32, for a total value of $3,556,070.64. Following the transaction, the chief executive officer now owns 296,892 shares in the company, valued at $14,642,713.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Miguel M. Calado sold 5,299 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now directly owns 31,159 shares of the company’s stock, valued at $1,650,180.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,029 shares of company stock valued at $6,766,593. Company insiders own 3.36% of the company’s stock.

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.