The Manufacturers Life Insurance Company Has $1.16 Million Stock Position in HNI Co. (NYSE:HNI)

The Manufacturers Life Insurance Company lifted its stake in HNI Co. (NYSE:HNI) by 4.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,780 shares of the business services provider’s stock after purchasing an additional 1,004 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of HNI worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of HNI in the 2nd quarter valued at $29,000. Daiwa Securities Group Inc. acquired a new position in shares of HNI in the 1st quarter valued at $202,000. Hennion & Walsh Asset Management Inc. acquired a new stake in HNI during the 1st quarter worth about $245,000. Bailard Inc. acquired a new stake in HNI during the 2nd quarter worth about $248,000. Finally, O Shaughnessy Asset Management LLC boosted its position in HNI by 11.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,702 shares of the business services provider’s stock worth $257,000 after acquiring an additional 608 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Stock Up 1.7 %

Shares of HNI stock opened at $53.05 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 39.30, a P/E/G ratio of 1.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. HNI Co. has a 52-week low of $32.70 and a 52-week high of $56.13. The stock has a 50-day simple moving average of $51.98 and a 200-day simple moving average of $47.76.

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

HNI Dividend Announcement

The business 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 dividend yield of 2.49%. The ex-dividend date was Friday, August 23rd. HNI’s payout ratio is 97.78%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Benchmark raised their price objective on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday.

Insider Activity at HNI

In related news, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm’s stock in a transaction that occurred on 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 directly 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 is accessible through this link. In other HNI news, CEO Jeffrey D. Lorenger sold 16,450 shares of HNI stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.09, for a total value of $873,330.50. Following the transaction, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at $15,761,996.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,649 shares of company stock valued at $6,556,261. Corporate 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.