MML Investors Services LLC Purchases New Stake in HNI Co. (NYSE:HNI)

MML Investors Services LLC acquired a new position in HNI Co. (NYSE:HNI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,222 shares of the business services provider’s stock, valued at approximately $281,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of HNI by 1.1% in the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock valued at $101,033,000 after buying an additional 20,717 shares during the period. SG Americas Securities LLC acquired a new position in HNI in the third quarter valued at approximately $450,000. The Manufacturers Life Insurance Company grew its holdings in shares of HNI by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock valued at $1,161,000 after purchasing an additional 1,004 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of HNI during the 3rd quarter worth approximately $2,245,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of HNI in the 2nd quarter worth approximately $2,148,000. Institutional investors own 75.26% of the company’s stock.

Insider Buying and Selling

In other news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the sale, the director now owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

HNI Trading Up 0.5 %

Shares of NYSE:HNI opened at $51.28 on Thursday. 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 company’s 50-day moving average price is $54.07 and its 200 day moving average price is $51.39. The company has a market cap of $2.45 billion, a PE ratio of 19.88, a P/E/G ratio of 1.55 and a beta of 0.88. HNI Co. has a fifty-two week low of $39.95 and a fifty-two week high of $58.42.

HNI (NYSE:HNI) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company had revenue of $672.20 million for the quarter, compared to analysts’ expectations of $712.75 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts anticipate that HNI Co. will post 2.93 earnings per share for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, November 18th. HNI’s dividend payout ratio is currently 51.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

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.