Principal Financial Group Inc. raised its stake in HNI Corp. (NYSE:HNI) by 7.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 561,490 shares of the company’s stock after buying an additional 41,300 shares during the period. Principal Financial Group Inc. owned about 1.26% of HNI Corp. worth $26,104,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of HNI Corp. during the first quarter valued at $222,000. Prudential Financial Inc. boosted its stake in shares of HNI Corp. by 50.7% in the first quarter. Prudential Financial Inc. now owns 52,937 shares of the company’s stock worth $2,074,000 after buying an additional 17,800 shares during the period. BlackRock Inc. boosted its stake in shares of HNI Corp. by 7.8% in the first quarter. BlackRock Inc. now owns 17,501 shares of the company’s stock worth $685,000 after buying an additional 1,265 shares during the period. BlackRock Group LTD boosted its stake in shares of HNI Corp. by 21.3% in the first quarter. BlackRock Group LTD now owns 32,074 shares of the company’s stock worth $1,257,000 after buying an additional 5,638 shares during the period. Finally, Menta Capital LLC boosted its stake in shares of HNI Corp. by 19.5% in the first quarter. Menta Capital LLC now owns 31,948 shares of the company’s stock worth $1,251,000 after buying an additional 5,217 shares during the period. 68.01% of the stock is currently owned by institutional investors.
Shares of HNI Corp. (NYSE:HNI) traded up 0.48% during mid-day trading on Wednesday, reaching $40.09. 42,388 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $51.79 and a 200-day moving average price of $46.48. HNI Corp. has a one year low of $29.84 and a one year high of $56.96. The stock has a market cap of $1.78 billion, a PE ratio of 15.95 and a beta of 1.40.
HNI Corp. (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. HNI Corp. had a net margin of 5.06% and a return on equity of 26.76%. On average, analysts predict that HNI Corp. will post $2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 19th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Wednesday, August 17th. HNI Corp.’s dividend payout ratio (DPR) is currently 43.82%.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of HNI Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, September 21st. Raymond James Financial Inc. cut shares of HNI Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th.
In related news, Chairman Stanley A. Askren sold 58,676 shares of HNI Corp. stock in a transaction on Friday, July 29th. The shares were sold at an average price of $52.30, for a total value of $3,068,754.80. Following the transaction, the chairman now owns 254,378 shares in the company, valued at approximately $13,303,969.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jerald K. Dittmer sold 1,404 shares of HNI Corp. stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $53.50, for a total transaction of $75,114.00. Following the completion of the transaction, the insider now owns 22,823 shares in the company, valued at approximately $1,221,030.50. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
About HNI Corp.
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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