AQR Capital Management LLC Has $675,000 Stock Holdings in HNI Co. (NYSE:HNI)

AQR Capital Management LLC lifted its position in shares of HNI Co. (NYSE:HNI) by 129.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,002 shares of the business services provider’s stock after purchasing an additional 8,452 shares during the quarter. AQR Capital Management LLC’s holdings in HNI were worth $675,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in HNI by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock worth $251,208,000 after purchasing an additional 287,735 shares in the last quarter. Edgestream Partners L.P. purchased a new position in HNI during the first quarter valued at $4,267,000. Hillsdale Investment Management Inc. purchased a new position in shares of HNI in the first quarter worth $3,987,000. Jupiter Asset Management Ltd. grew its holdings in shares of HNI by 184.7% in the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after acquiring an additional 66,387 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in HNI during the first quarter valued at about $2,623,000. Institutional investors own 75.26% of the company’s stock.

HNI Price Performance

NYSE:HNI opened at $53.05 on Monday. HNI Co. has a 52 week low of $32.70 and a 52 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. The stock has a market capitalization of $2.51 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84. The stock’s 50-day moving average price is $51.98 and its 200-day moving average price is $47.77.

HNI (NYSE:HNI) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. 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 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts expect that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently announced 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is presently 97.78%.

Insider Activity

In related news, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now directly owns 31,159 shares in the company, valued at approximately $1,650,180.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 16,450 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $53.09, for a total value of $873,330.50. Following the transaction, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at $15,761,996.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Miguel M. Calado sold 5,299 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the completion of the transaction, the director now directly owns 31,159 shares in the company, valued at $1,650,180.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,412 shares of company stock worth $6,012,952 in the last ninety days. Company insiders own 3.36% of the company’s stock.

Analysts Set New Price Targets

HNI has been the topic of a number of research analyst reports. Benchmark boosted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

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.