HNI Co. (NYSE:HNI) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in HNI Co. (NYSE:HNI) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 22,800 shares of the business services provider’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in HNI were worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. boosted its stake in HNI by 184.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after purchasing an additional 66,387 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in HNI by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after acquiring an additional 544 shares during the period. Russell Investments Group Ltd. lifted its stake in HNI by 30.4% during the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock valued at $2,163,000 after acquiring an additional 11,168 shares during the period. BNP Paribas Financial Markets lifted its stake in HNI by 86.6% during the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock valued at $1,618,000 after acquiring an additional 16,646 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in HNI during the 3rd quarter valued at approximately $450,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HNI has been the subject of several research reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Benchmark lifted 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.

HNI Price Performance

NYSE:HNI opened at $49.71 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.73. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. The company has a 50 day moving average price of $52.50 and a 200-day moving average price of $48.58. HNI Co. has a 1-year low of $36.72 and a 1-year high of $56.13.

HNI (NYSE:HNI) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. Equities research analysts forecast that HNI Co. will post 2.93 EPS for the current year.

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is 51.16%.

Insider Activity

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary A. Bell sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $51.85, for a total transaction of $259,250.00. Following the completion of the sale, the director now directly owns 74,401 shares of the company’s stock, valued at approximately $3,857,691.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,582 shares of company stock valued at $5,597,281 in the last three months. 3.36% of the stock is currently owned by corporate insiders.

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.