Algert Global LLC Sells 27,142 Shares of HNI Co. (NYSE:HNI)

Algert Global LLC lessened its holdings in HNI Co. (NYSE:HNI) by 34.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 52,338 shares of the business services provider’s stock after selling 27,142 shares during the period. Algert Global LLC’s holdings in HNI were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its stake in shares of HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock valued at $1,222,000 after buying an additional 338 shares in the last quarter. Versor Investments LP raised its stake in shares of HNI by 5.2% in the 2nd quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock valued at $365,000 after buying an additional 400 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of HNI by 6.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider’s stock valued at $326,000 after buying an additional 436 shares in the last quarter. Arizona State Retirement System raised its stake in shares of HNI by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 13,237 shares of the business services provider’s stock valued at $596,000 after buying an additional 436 shares in the last quarter. Finally, Arjuna Capital raised its stake in shares of HNI by 1.6% in the 2nd quarter. Arjuna Capital now owns 34,851 shares of the business services provider’s stock valued at $1,569,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HNI shares. Benchmark increased their price objective 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. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th.

HNI Trading Down 0.9 %

Shares of HNI stock opened at $52.91 on Thursday. The stock has a market capitalization of $2.50 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $52.09 and a 200 day simple moving average of $47.31. HNI Co. has a 12-month low of $32.70 and a 12-month high of $56.13.

HNI (NYSE:HNI) last announced its 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 analysts’ expectations of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. Research analysts expect that HNI Co. will post 3.17 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is currently 97.78%.

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the sale, the director now owns 39,725 shares of the company’s stock, valued at approximately $1,907,197.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other HNI news, CFO Marshall H. Bridges sold 4,138 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.50, for a total transaction of $221,383.00. Following the sale, the chief financial officer now owns 78,346 shares of the company’s stock, valued at approximately $4,191,511. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $48.01, for a total transaction of $96,020.00. Following the sale, the director now directly owns 39,725 shares in the company, valued at approximately $1,907,197.25. The disclosure for this sale can be found here. Insiders have sold a total of 134,029 shares of company stock valued at $6,766,593 in the last 90 days. 3.36% of the stock is currently owned by insiders.

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.