HNI Co. (NYSE:HNI) Holdings Trimmed by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of HNI Co. (NYSE:HNI) by 80.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,215 shares of the business services provider’s stock after selling 34,264 shares during the quarter. Hsbc Holdings PLC’s holdings in HNI were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HNI. Quest Partners LLC purchased a new position in HNI during the 2nd quarter worth approximately $29,000. Daiwa Securities Group Inc. purchased a new position in HNI during the 1st quarter worth approximately $202,000. Hennion & Walsh Asset Management Inc. purchased a new position in HNI during the 1st quarter worth approximately $245,000. Bailard Inc. acquired a new stake in shares of HNI during the 2nd quarter valued at $248,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of 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 valued at $257,000 after buying an additional 608 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

HNI Stock Down 0.9 %

HNI stock opened at $52.91 on Thursday. 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 1 year low of $32.70 and a 1 year high of $56.13. The company has a fifty day simple moving average of $52.09 and a 200 day simple moving average of $47.31. The firm has a market cap of $2.50 billion, a PE ratio of 39.18, a PEG ratio of 1.38 and a beta of 0.85.

HNI (NYSE:HNI) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $637.74 million. During the same quarter in the previous year, the business earned $0.55 EPS. HNI’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that HNI Co. will post 3.17 EPS for the current fiscal 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 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend 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 HNI stock in a transaction 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 completion of the sale, the chief executive officer now owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other HNI 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 sale, the chief executive officer now directly owns 296,892 shares in the company, valued at $14,642,713.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey D. Lorenger sold 9,447 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $53.42, for a total transaction of $504,658.74. Following the sale, the chief executive officer now owns 296,892 shares of the company’s stock, valued at $15,859,970.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,029 shares of company stock valued at $6,766,593. Insiders own 3.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HNI. StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Benchmark lifted their target price on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

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.