HNI Co. (NYSE:HNI) Shares Acquired by Clifford Capital Partners LLC

Clifford Capital Partners LLC increased its stake in HNI Co. (NYSE:HNI) by 14.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,535 shares of the business services provider’s stock after acquiring an additional 37,155 shares during the period. HNI makes up about 2.9% of Clifford Capital Partners LLC’s holdings, making the stock its 25th largest holding. Clifford Capital Partners LLC owned about 0.62% of HNI worth $13,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HNI. Quest Partners LLC acquired a new stake in HNI in the second quarter valued at approximately $29,000. Daiwa Securities Group Inc. purchased a new stake in shares of HNI during the 1st quarter worth $202,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of HNI during the first quarter worth $245,000. Bailard Inc. purchased a new position in HNI in the second quarter valued at $248,000. Finally, O Shaughnessy Asset Management LLC raised its stake in HNI by 11.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,702 shares of the business services provider’s stock valued at $257,000 after buying an additional 608 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other HNI news, VP Steven M. Bradford sold 2,380 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.03, for a total value of $114,311.40. Following the completion of the transaction, the vice president now directly owns 61,642 shares of the company’s stock, valued at $2,960,665.26. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Steven M. Bradford sold 2,380 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.03, for a total value of $114,311.40. Following the sale, the vice president now directly owns 61,642 shares in the company, valued at approximately $2,960,665.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the sale, the director now directly owns 39,725 shares in the company, valued at approximately $1,907,197.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,029 shares of company stock worth $6,766,593. 3.36% of the stock is owned by corporate insiders.

HNI Trading Down 0.8 %

Shares of HNI stock opened at $53.40 on Wednesday. HNI Co. has a twelve month low of $32.70 and a twelve month high of $56.13. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $52.03 and its two-hundred day moving average is $47.24. The company has a market capitalization of $2.53 billion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. The company had revenue of $623.70 million for the quarter, compared to analysts’ expectations of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. HNI’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities analysts forecast that HNI Co. will post 3.17 EPS for the current year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio is presently 97.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on HNI shares. Benchmark raised their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th.

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.