Hancock Whitney Corp boosted its stake in HNI Corp (NYSE:HNI) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,256 shares of the business services provider’s stock after buying an additional 1,215 shares during the quarter. Hancock Whitney Corp’s holdings in HNI were worth $1,606,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of HNI. Macquarie Group Ltd. increased its holdings in shares of HNI by 250.0% during the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock worth $25,000 after purchasing an additional 500 shares during the period. Claybrook Capital LLC bought a new position in shares of HNI during the 4th quarter worth about $69,000. Investors Research Corp bought a new position in shares of HNI during the 1st quarter worth about $76,000. NumerixS Investment Technologies Inc increased its holdings in shares of HNI by 26.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,082 shares of the business services provider’s stock worth $76,000 after purchasing an additional 440 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of HNI during the 1st quarter worth about $80,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on HNI shares. Zacks Investment Research upgraded shares of HNI from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. TheStreet downgraded shares of HNI from a “b” rating to a “c+” rating in a report on Monday, April 22nd. Sidoti set a $45.00 price objective on shares of HNI and gave the stock a “hold” rating in a report on Friday, May 31st. Finally, Seaport Global Securities restated a “neutral” rating on shares of HNI in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. HNI presently has a consensus rating of “Hold” and an average price target of $45.00.
NYSE HNI opened at $35.88 on Friday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 14.89 and a beta of 1.27. HNI Corp has a twelve month low of $32.79 and a twelve month high of $45.40. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54.
HNI (NYSE:HNI) last posted its earnings results on Monday, April 22nd. The business services provider reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $479.50 million for the quarter, compared to analysts’ expectations of $485.33 million. HNI had a net margin of 4.12% and a return on equity of 18.89%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, research analysts anticipate that HNI Corp will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.305 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.22 dividend on an annualized basis and a yield of 3.40%. This is a boost from HNI’s previous quarterly dividend of $0.30. HNI’s payout ratio is presently 50.62%.
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HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
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