nVerses Capital LLC Has $77,000 Holdings in HNI Co. (NYSE:HNI)

nVerses Capital LLC cut its stake in shares of HNI Co. (NYSE:HNI) by 66.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the business services provider’s stock after selling 3,300 shares during the period. nVerses Capital LLC’s holdings in HNI were worth $77,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas bought a new position in shares of HNI during the fourth quarter worth approximately $25,000. FinTrust Capital Advisors LLC bought a new position in shares of HNI during the fourth quarter worth approximately $42,000. Northwest Financial Advisors bought a new position in shares of HNI during the fourth quarter worth approximately $134,000. Daiwa Securities Group Inc. bought a new position in shares of HNI during the first quarter worth approximately $202,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of HNI during the fourth quarter worth approximately $238,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at HNI

In other 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 completion of the sale, the chief executive officer now owns 296,892 shares in the company, valued at approximately $14,642,713.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $48.01, for a total value of $96,020.00. Following the completion of the transaction, the director now directly owns 39,725 shares of the company’s stock, valued at approximately $1,907,197.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI 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 directly owns 296,892 shares of the company’s stock, valued at $14,642,713.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,029 shares of company stock worth $6,766,593. Insiders own 3.36% of the company’s stock.

HNI Stock Down 2.2 %

Shares of HNI opened at $52.67 on Wednesday. The company has a market capitalization of $2.49 billion, a PE ratio of 39.01, a PEG ratio of 1.42 and a beta of 0.86. The stock’s 50-day moving average price is $49.88 and its two-hundred day moving average price is $46.06. 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 12 month low of $31.02 and a 12 month high of $56.13.

HNI (NYSE:HNI) last released its 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. HNI had a net margin of 4.39% and a return on equity of 19.15%. The business had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. HNI’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts anticipate that HNI Co. will post 3.17 EPS for the current year.

HNI Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

HNI 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.