Livforsakringsbolaget Skandia Omsesidigt Grows Position in HNI Co. (NYSE:HNI)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of HNI Co. (NYSE:HNI) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,700 shares of the business services provider’s stock after acquiring an additional 5,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.10% of HNI worth $2,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quest Partners LLC purchased a new position in HNI in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC grew its position in HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after acquiring an additional 228 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in HNI in the first quarter valued at $202,000. Contravisory Investment Management Inc. purchased a new stake in HNI during the third quarter valued at about $230,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in HNI during the first quarter worth about $245,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Benchmark increased their price target 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.

HNI Stock Performance

HNI stock opened at $53.05 on Friday. The firm has a fifty day simple moving average of $51.98 and a two-hundred day simple moving average of $47.76. 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 twelve month low of $32.70 and a twelve month high of $56.13. The company has a market capitalization of $2.51 billion, a PE ratio of 39.30, a P/E/G ratio of 1.40 and a beta of 0.84.

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

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 annualized dividend and a yield of 2.49%. HNI’s payout ratio is currently 97.78%.

Insiders Place Their Bets

In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company’s 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total transaction of $280,635.04. Following the sale, the director now owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the business’s 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 transaction, the chief executive officer now owns 296,892 shares in the company, valued at $14,642,713.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,649 shares of company stock valued at $6,556,261 in the last quarter. 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.