Victory Capital Management Inc. increased its position in HNI Corp. (NYSE:HNI) by 17.6% during the second quarter, Holdings Channel reports. The fund owned 10,796 shares of the company’s stock after buying an additional 1,617 shares during the period. Victory Capital Management Inc.’s holdings in HNI Corp. were worth $502,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of HNI. State Treasurer State of Michigan boosted its stake in HNI Corp. by 1.1% in the second quarter. State Treasurer State of Michigan now owns 17,840 shares of the company’s stock valued at $829,000 after buying an additional 200 shares in the last quarter. Retirement Systems of Alabama boosted its stake in HNI Corp. by 0.5% in the second quarter. Retirement Systems of Alabama now owns 57,241 shares of the company’s stock valued at $2,661,000 after buying an additional 300 shares in the last quarter. Suntrust Banks Inc. boosted its stake in HNI Corp. by 4.8% in the second quarter. Suntrust Banks Inc. now owns 7,318 shares of the company’s stock valued at $340,000 after buying an additional 334 shares in the last quarter. UBS Group AG boosted its stake in 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. Finally, Oregon Public Employees Retirement Fund boosted its stake in HNI Corp. by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 14,708 shares of the company’s stock valued at $684,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds own 68.01% of the company’s stock.
HNI Corp. (NYSE:HNI) traded up 0.28% during trading on Friday, reaching $39.80. The company’s stock had a trading volume of 272,702 shares. The stock has a 50-day moving average of $50.65 and a 200 day moving average of $46.41. The firm has a market capitalization of $1.77 billion, a P/E ratio of 15.84 and a beta of 1.40. HNI Corp. has a one year low of $29.84 and a one year high of $56.96.
HNI Corp. (NYSE:HNI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. On average, equities research analysts predict that HNI Corp. will post $2.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders 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 (DPR) is presently 43.82%.
Several research firms recently issued reports on HNI. Zacks Investment Research cut HNI Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, September 21st. Raymond James Financial Inc. cut HNI Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th.
In related news, insider Donald T. Mead sold 26,343 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $54.60, for a total value of $1,438,327.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stanley A. Askren sold 58,676 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $52.30, for a total value of $3,068,754.80. Following the completion of the transaction, the chairman now directly owns 254,378 shares of the company’s stock, valued at approximately $13,303,969.40. The disclosure for this sale can be found here. 5.00% of the stock is owned by 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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