waypoint wealth counsel Makes New Investment in HNI Co. (NYSE:HNI)

waypoint wealth counsel bought a new stake in HNI Co. (NYSE:HNI) during the 3rd quarter, HoldingsChannel reports. The fund bought 5,533 shares of the business services provider’s stock, valued at approximately $298,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of HNI during the 2nd quarter worth approximately $29,000. Daiwa Securities Group Inc. bought a new stake in shares of HNI during the first quarter worth $202,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of HNI during the first quarter worth $245,000. Bailard Inc. purchased a new stake in shares of HNI during the second quarter valued at $248,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of HNI by 11.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,702 shares of the business services provider’s stock worth $257,000 after purchasing an additional 608 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

HNI has been the subject of several research reports. Benchmark boosted their price objective on shares of 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 shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

HNI Stock Up 2.1 %

Shares of HNI traded up $1.10 during midday trading on Friday, reaching $53.27. 164,298 shares of the stock were exchanged, compared to its average volume of 248,446. The company has a market capitalization of $2.52 billion, a P/E ratio of 39.46, a PEG ratio of 1.38 and a beta of 0.84. 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 Co. has a 52 week low of $32.70 and a 52 week high of $56.13. The company’s 50 day moving average is $52.11 and its two-hundred day moving average is $47.45.

HNI (NYSE:HNI) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $623.70 million for the quarter, compared to analysts’ expectations of $637.74 million. During the same period in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that HNI Co. will post 3.17 earnings per share for the current year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is 97.78%.

Insider Buying and Selling

In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the sale, the chief executive officer now owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall H. Bridges sold 4,138 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.50, for a total transaction of $221,383.00. Following the completion of the sale, the chief financial officer now owns 78,346 shares in the company, valued at $4,191,511. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,029 shares of company stock valued at $6,766,593 over the last 90 days. Corporate insiders own 3.36% of the company’s stock.

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.