Quest Partners LLC Takes $29,000 Position in HNI Co. (NYSE:HNI)

Quest Partners LLC purchased a new position in shares of HNI Co. (NYSE:HNI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 645 shares of the business services provider’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jupiter Asset Management Ltd. increased its position in HNI by 184.7% during the first 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 during the last quarter. Texas Permanent School Fund Corp raised its position in shares of HNI by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock worth $1,840,000 after buying an additional 544 shares during the period. Russell Investments Group Ltd. boosted its holdings in HNI by 30.4% in the first 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 last quarter. Oxford Financial Group LTD. LLC increased its stake in HNI by 58.0% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock worth $2,170,000 after acquiring an additional 19,032 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of HNI by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 16,646 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Insider Buying and Selling at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Friday, July 12th. The shares were sold at an average price of $48.01, for a total value of $96,020.00. Following the completion of the sale, the director now owns 39,725 shares in the company, valued at $1,907,197.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Steven M. Bradford sold 2,380 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $48.03, for a total value of $114,311.40. Following the completion of the sale, the vice president now directly owns 61,642 shares of the company’s stock, valued at $2,960,665.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $48.01, for a total value of $96,020.00. Following the transaction, 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 three months. Corporate insiders own 3.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on HNI shares. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Benchmark upped their price target on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

HNI Stock Down 2.1 %

NYSE HNI opened at $52.30 on Friday. The stock has a market cap of $2.47 billion, a PE ratio of 38.74, a P/E/G ratio of 1.32 and a beta of 0.85. The business has a 50 day moving average price of $51.57 and a two-hundred day moving average price of $46.77. HNI Co. has a fifty-two week low of $32.70 and a fifty-two week high of $56.13. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53.

HNI (NYSE:HNI) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.18. The firm had revenue of $623.70 million for the quarter, compared to the consensus estimate of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, sell-side analysts predict that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. HNI’s dividend payout ratio (DPR) is presently 97.78%.

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.