Texas Permanent School Fund Corp Has $1.57 Million Stock Holdings in HNI Co. (NYSE:HNI)

Texas Permanent School Fund Corp decreased its position in shares of HNI Co. (NYSE:HNI) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,862 shares of the business services provider’s stock after selling 5,903 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of HNI worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HNI. Norges Bank acquired a new stake in shares of HNI during the fourth quarter worth approximately $13,368,000. Vanguard Group Inc. increased its holdings in shares of HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock worth $251,208,000 after buying an additional 287,735 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of HNI by 20.0% during the fourth quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider’s stock worth $51,744,000 after buying an additional 206,419 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of HNI during the first quarter valued at approximately $4,267,000. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of HNI during the fourth quarter valued at approximately $3,906,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insiders Place Their Bets

In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 296,892 shares in the company, valued at $14,642,713.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 296,892 shares in the company, valued at $14,642,713.44. The sale 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 stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.42, for a total value of $504,658.74. Following the transaction, 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. Insiders sold 134,029 shares of company stock worth $6,766,593 over the last ninety days. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on HNI shares. Benchmark increased their price target 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 raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th.

HNI Price Performance

Shares of HNI stock opened at $53.02 on Thursday. HNI Co. has a 52-week low of $32.70 and a 52-week high of $56.13. The stock has a market cap of $2.51 billion, a PE ratio of 39.27, a PEG ratio of 1.32 and a beta of 0.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. The firm’s 50 day moving average price is $51.35 and its two-hundred day moving average price is $46.66.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm had revenue of $623.70 million for the quarter, compared to analysts’ expectations of $637.74 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that HNI Co. will post 3.17 EPS for the current year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. HNI’s dividend payout ratio (DPR) is currently 97.78%.

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.