Victory Capital Management Inc. Sells 28,882 Shares of HNI Co. (NYSE:HNI)

Victory Capital Management Inc. lessened its holdings in HNI Co. (NYSE:HNI) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,082 shares of the business services provider’s stock after selling 28,882 shares during the quarter. Victory Capital Management Inc. owned 0.50% of HNI worth $12,818,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CWM LLC increased its holdings in shares of HNI by 3.2% in the third quarter. CWM LLC now owns 7,332 shares of the business services provider’s stock valued at $395,000 after purchasing an additional 225 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of HNI by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock valued at $1,222,000 after purchasing an additional 338 shares during the last quarter. Versor Investments LP increased its holdings in shares of HNI by 5.2% in the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of HNI by 6.4% in the second quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider’s stock valued at $326,000 after acquiring an additional 436 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insider Activity at HNI

In related news, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the completion of the sale, the director now owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This trade represents a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey D. Lorenger sold 16,450 shares of HNI stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $53.09, for a total transaction of $873,330.50. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at approximately $15,761,996.28. The trade was a 5.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,480 shares of company stock valued at $1,781,960. 3.36% of the stock is owned by company insiders.

HNI Stock Performance

Shares of HNI stock opened at $55.30 on Thursday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.56 and a beta of 0.85. HNI Co. has a 52 week low of $38.55 and a 52 week high of $57.59. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $53.07 and a 200-day moving average of $49.79.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $672.20 million during the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. On average, equities analysts forecast that HNI Co. will post 2.93 earnings per share for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, November 18th. HNI’s payout ratio is currently 51.16%.

Analyst Upgrades and Downgrades

HNI has been the topic of several research reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Benchmark increased their target price on shares of HNI from $57.00 to $63.00 and gave the company 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.