Mason Street Advisors LLC purchased a new position in shares of HNI Corp. (NYSE:HNI) during the second quarter, Holdings Channel reports. The institutional investor purchased 20,236 shares of the company’s stock, valued at approximately $941,000.
A number of other hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in HNI Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 426,000 shares of the company’s stock worth $16,686,000 after buying an additional 191,200 shares during the last quarter. Prudential Financial Inc. increased its position 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 valued at $2,074,000 after buying an additional 17,800 shares in the last quarter. UBS Group AG increased its position in shares of HNI Corp. by 2.3% in the first quarter. UBS Group AG now owns 15,480 shares of the company’s stock valued at $606,000 after buying an additional 343 shares in the last quarter. BlackRock Inc. increased its position in shares of HNI Corp. by 7.8% in the first quarter. BlackRock Inc. now owns 17,501 shares of the company’s stock valued at $685,000 after buying an additional 1,265 shares in the last quarter. Finally, Springbok Capital Management LLC increased its position in shares of HNI Corp. by 92.8% in the first quarter. Springbok Capital Management LLC now owns 16,000 shares of the company’s stock valued at $627,000 after buying an additional 7,700 shares in the last quarter. 68.01% of the stock is owned by hedge funds and other institutional investors.
HNI Corp. (NYSE:HNI) opened at 39.90 on Wednesday. The company’s 50-day moving average is $51.79 and its 200 day moving average is $46.48. HNI Corp. has a one year low of $29.84 and a one year high of $56.96. The company has a market capitalization of $1.77 billion, a P/E ratio of 15.88 and a beta of 1.40.
HNI Corp. (NYSE:HNI) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.68 EPS 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%. 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. Shareholders of record on Friday, August 19th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $1.10 annualized dividend and a dividend yield of 2.76%. HNI Corp.’s dividend payout ratio is currently 43.82%.
Several equities analysts recently issued reports on HNI shares. Zacks Investment Research downgraded shares of HNI Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, September 21st. Raymond James Financial Inc. downgraded shares of HNI Corp. from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 20th.
In related news, Chairman Stanley A. Askren sold 58,676 shares of the company’s stock in a transaction dated 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 directly owns 254,378 shares in the company, valued at $13,303,969.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $52.20, for a total transaction of $1,904,412.60. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.
HNI Corp. Company Profile
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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