500 Shares in HNI Co. (NYSE:HNI) Acquired by Eastern Bank

Eastern Bank acquired a new position in HNI Co. (NYSE:HNI) during the third quarter, HoldingsChannel.com reports. The fund acquired 500 shares of the business services provider’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in HNI by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after buying an additional 287,735 shares during the period. Edgestream Partners L.P. acquired a new position in HNI in the first quarter valued at approximately $4,267,000. Hillsdale Investment Management Inc. acquired a new position in HNI in the first quarter valued at approximately $3,987,000. Jupiter Asset Management Ltd. lifted its stake in HNI by 184.7% in the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock valued at $4,618,000 after buying an additional 66,387 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in HNI in the first quarter valued at approximately $2,623,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on HNI. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 13th. Benchmark upped their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

HNI Price Performance

Shares of NYSE:HNI opened at $51.66 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. HNI Co. has a twelve month low of $32.70 and a twelve month high of $56.13. The stock’s 50 day moving average is $52.63 and its 200-day moving average is $48.40. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.39 and a beta of 0.84.

HNI (NYSE:HNI) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. The company had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. During the same period in the prior year, the firm earned $0.55 earnings per share. HNI’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts forecast that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a yield of 2.56%. HNI’s dividend payout ratio (DPR) is currently 55.00%.

Insider Buying and Selling

In related news, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares in the company, valued at approximately $642,708. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.32, for a total value of $3,556,070.64. Following the completion of the transaction, the chief executive officer now owns 296,892 shares in the company, valued at $14,642,713.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,582 shares of company stock worth $5,597,281. 3.36% of the stock is owned by corporate insiders.

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.