SG Americas Securities LLC Purchases Shares of 8,353 HNI Co. (NYSE:HNI)

SG Americas Securities LLC purchased a new stake in HNI Co. (NYSE:HNI) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,353 shares of the business services provider’s stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in HNI by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after acquiring an additional 287,735 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in HNI by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after acquiring an additional 9,901 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in HNI by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock valued at $25,437,000 after acquiring an additional 17,151 shares during the last quarter. Clifford Capital Partners LLC lifted its holdings in HNI by 14.6% in the 2nd quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock valued at $13,125,000 after acquiring an additional 37,155 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in HNI by 9.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 104,094 shares of the business services provider’s stock valued at $4,686,000 after acquiring an additional 8,619 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Sunday. Benchmark raised their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

HNI Price Performance

NYSE HNI opened at $54.97 on Thursday. The company has a 50 day simple moving average of $52.11 and a 200-day simple moving average of $47.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 40.72, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84. HNI Co. has a 52-week low of $32.70 and a 52-week high of $56.13.

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

HNI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, August 23rd. HNI’s payout ratio is presently 97.78%.

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 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 of the company’s stock, valued at approximately $14,642,713.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other HNI news, CEO Jeffrey D. Lorenger sold 9,447 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $53.42, for a total transaction of $504,658.74. Following the transaction, the chief executive officer now owns 296,892 shares in the company, valued at $15,859,970.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 approximately $14,642,713.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,412 shares of company stock valued at $6,012,952. 3.36% of the stock is currently owned by corporate insiders.

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.