waypoint wealth counsel Invests $298,000 in HNI Co. (NYSE:HNI)

waypoint wealth counsel acquired a new stake in shares of HNI Co. (NYSE:HNI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,533 shares of the business services provider’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HNI. Vanguard Group Inc. grew 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 valued at $251,208,000 after purchasing an additional 287,735 shares during the period. Edgestream Partners L.P. bought a new position in shares of HNI during the 1st quarter valued at approximately $4,267,000. Intrinsic Edge Capital Management LLC purchased a new stake in HNI in the 4th quarter worth approximately $3,906,000. Hillsdale Investment Management Inc. bought a new stake in HNI during the 1st quarter worth approximately $3,987,000. Finally, Jupiter Asset Management Ltd. lifted its holdings 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 valued at $4,618,000 after purchasing an additional 66,387 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HNI

In related news, VP Steven M. Bradford sold 11,237 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.35, for a total transaction of $543,308.95. Following the completion of the transaction, the vice president now directly owns 61,642 shares of the company’s stock, valued at approximately $2,980,390.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Steven M. Bradford sold 11,237 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.35, for a total transaction of $543,308.95. Following the sale, the vice president now directly owns 61,642 shares of the company’s stock, valued at $2,980,390.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,029 shares of company stock valued at $6,766,593. 3.36% of the stock is currently owned by insiders.

HNI Price Performance

HNI traded up $1.10 on Friday, hitting $53.27. 164,298 shares of the company’s stock traded hands, compared to its average volume of 248,446. HNI Co. has a one year low of $32.70 and a one year high of $56.13. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 1.38 and a beta of 0.84. The company’s 50 day simple moving average is $52.11 and its 200-day simple moving average is $47.45.

HNI (NYSE:HNI) last released its earnings results on Thursday, July 25th. The business services provider reported $0.79 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 company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, research analysts anticipate that HNI Co. will post 3.17 EPS for the current year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.48%. HNI’s payout ratio is 97.78%.

Analyst Upgrades and Downgrades

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

About HNI

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.