Thrivent Financial for Lutherans Has $2 Million Stake in HNI Co. (NYSE:HNI)

Thrivent Financial for Lutherans trimmed its holdings in HNI Co. (NYSE:HNI) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,096 shares of the business services provider’s stock after selling 2,245 shares during the period. Thrivent Financial for Lutherans’ holdings in HNI were worth $1,997,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in shares of HNI during the second quarter worth approximately $2,189,000. Panagora Asset Management Inc. bought a new position in shares of HNI during the second quarter worth approximately $2,148,000. Clifford Capital Partners LLC increased its stake in shares of HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock worth $13,125,000 after purchasing an additional 37,155 shares during the period. Inspire Advisors LLC bought a new position in shares of HNI during the second quarter worth approximately $1,470,000. Finally, Larson Financial Group LLC bought a new position in shares of HNI during the second quarter worth approximately $1,286,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction 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 transaction, the insider now owns 11,902 shares in the company, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.36% of the company’s stock.

HNI Price Performance

HNI stock opened at $56.27 on Friday. The stock’s fifty day moving average price is $53.51 and its two-hundred day moving average price is $50.19. HNI Co. has a one year low of $38.55 and a one year high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. The firm has a market cap of $2.69 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85.

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

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.35%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

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.