HNI Co. (NYSE:HNI) Position Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in shares of HNI Co. (NYSE:HNI) by 89.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,517 shares of the business services provider’s stock after selling 85,024 shares during the period. Edgestream Partners L.P.’s holdings in HNI were worth $428,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in 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. Dimensional Fund Advisors LP boosted its holdings in HNI by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock worth $73,180,000 after buying an additional 9,901 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in HNI by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock worth $25,437,000 after buying an additional 17,151 shares in the last quarter. Norges Bank acquired a new position in HNI in the 4th quarter worth approximately $13,368,000. Finally, Clifford Capital Partners LLC grew its position in HNI by 2.3% during the 1st quarter. Clifford Capital Partners LLC now owns 254,380 shares of the business services provider’s stock worth $11,480,000 after purchasing an additional 5,611 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

HNI Trading Down 2.1 %

NYSE HNI opened at $52.30 on Monday. HNI Co. has a twelve month low of $32.70 and a twelve month high of $56.13. 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 stock has a market cap of $2.47 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 1.32 and a beta of 0.85. The firm’s 50 day moving average price is $51.57 and its two-hundred day moving average price is $46.82.

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

HNI Dividend Announcement

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

Insider Activity

In related news, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the transaction, the chief executive officer now owns 296,892 shares of the company’s stock, valued at $14,642,713.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 9,447 shares of the business’s 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 completion of the sale, the chief executive officer now owns 296,892 shares of the company’s stock, valued at $15,859,970.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the company’s 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 sale, the chief executive officer now owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. The disclosure for this sale can be found here. Insiders sold a total of 134,029 shares of company stock worth $6,766,593 in the last three months. 3.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HNI has been the topic of several research analyst reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Benchmark lifted their price objective 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 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.