Intech Investment Management LLC Makes New Investment in HNI Co. (NYSE:HNI)

Intech Investment Management LLC acquired a new stake in HNI Co. (NYSE:HNI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 41,695 shares of the business services provider’s stock, valued at approximately $2,245,000. Intech Investment Management LLC owned about 0.09% of HNI at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Eastern Bank bought a new stake in shares of HNI in the 3rd quarter valued at about $27,000. Quest Partners LLC bought a new stake in HNI in the second quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in shares of HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after buying an additional 228 shares during the last quarter. Covestor Ltd boosted its stake in shares of HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after acquiring an additional 508 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of HNI by 4,746.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock worth $117,000 after acquiring an additional 2,136 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

HNI Trading Up 1.1 %

Shares of HNI stock opened at $56.17 on Monday. HNI Co. has a 12-month low of $38.55 and a 12-month high of $57.59. The company has a market capitalization of $2.68 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The firm has a 50 day moving average price of $53.25 and a two-hundred day moving average price of $49.95. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

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

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, November 18th. HNI’s dividend payout ratio is 51.16%.

Insiders Place Their Bets

In related news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 directly owns 11,902 shares in the company, valued at approximately $642,708. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now directly owns 31,159 shares in the company, valued at $1,650,180.64. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

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.