Pillsbury Lake Capital LLC Buys New Position in HNI Corporation $HNI

Pillsbury Lake Capital LLC acquired a new stake in HNI Corporation (NYSE:HNI) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 412,808 shares of the business services provider’s stock, valued at approximately $16,681,571. HNI makes up approximately 0.0% of Pillsbury Lake Capital LLC’s investment portfolio, making the stock its 4th largest position. Pillsbury Lake Capital LLC owned approximately 0.57% of HNI as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in HNI during the second quarter valued at $15,724,000. Freestone Grove Partners LP acquired a new stake in shares of HNI in the 2nd quarter valued at about $615,000. Medina Value Partners LLC bought a new position in HNI during the second quarter valued at about $10,242,319. Jupiter Topco LLC bought a new position in shares of HNI during the 2nd quarter valued at $1,289,000. Finally, Legal & General Group Plc bought a new stake in HNI in the second quarter valued at $6,407,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HNI. Wells Fargo & Company set a $65.00 price target on HNI in a report on Wednesday, July 15th. Benchmark reiterated a “buy” rating on shares of HNI in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised HNI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

HNI Stock Down 1.9%

Shares of NYSE HNI traded down $0.93 during mid-day trading on Friday, reaching $49.03. 345,993 shares of the company’s stock traded hands, compared to its average volume of 685,957. The stock has a market cap of $3.54 billion, a P/E ratio of 544.84, a PEG ratio of 0.59 and a beta of 0.91. HNI Corporation has a 1-year low of $28.93 and a 1-year high of $52.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.88. The business has a 50-day simple moving average of $43.58 and a 200 day simple moving average of $39.43.

HNI (NYSE:HNI) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.23. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.48 billion. HNI had a return on equity of 13.66% and a net margin of 0.10%.The company’s revenue was up 120.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. On average, analysts expect that HNI Corporation will post 4.24 EPS for the current fiscal year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.9%. HNI’s payout ratio is 1,555.56%.

Insider Transactions at HNI

In related news, CEO Jeffrey D. Lorenger sold 39,576 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.09, for a total value of $1,982,361.84. Following the sale, the chief executive officer owned 148,490 shares of the company’s stock, valued at $7,437,864.10. The trade was a 21.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 93,634 shares of company stock worth $4,573,387. 2.15% of the stock is currently owned by insiders.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.