Amalgamated Bank Lowers Holdings in HNI Co. (NYSE:HNI)

Amalgamated Bank reduced its position in HNI Co. (NYSE:HNI) by 3.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,862 shares of the business services provider’s stock after selling 551 shares during the quarter. Amalgamated Bank’s holdings in HNI were worth $746,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after buying an additional 2,136 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in HNI by 60.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 13,936 shares of the business services provider’s stock valued at $750,000 after buying an additional 5,226 shares during the period. Eastern Bank acquired a new position in HNI in the 3rd quarter valued at $27,000. Inspire Advisors LLC increased its stake in HNI by 2.7% in the 3rd quarter. Inspire Advisors LLC now owns 33,526 shares of the business services provider’s stock valued at $1,805,000 after buying an additional 870 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in HNI in the 3rd quarter valued at $349,000. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Stock Performance

NYSE:HNI opened at $54.88 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. HNI Co. has a fifty-two week low of $38.55 and a fifty-two week high of $57.59. The stock has a market cap of $2.62 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The firm’s fifty day simple moving average is $52.77 and its 200-day simple moving average is $49.49.

HNI (NYSE:HNI) last released 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 business had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. Analysts expect that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.41%. HNI’s payout ratio is currently 51.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Benchmark upped their price target on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling

In other news, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,480 shares of company stock valued at $2,041,210. 3.36% of the stock is currently owned by corporate insiders.

HNI Company 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.