41,695 Shares in HNI Co. (NYSE:HNI) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in HNI Co. (NYSE:HNI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,695 shares of the business services provider’s stock, valued at approximately $2,245,000.

Other large investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC increased its holdings in HNI by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock valued at $753,000 after purchasing an additional 287 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of HNI by 8.5% in the third quarter. Crossmark Global Holdings Inc. now owns 7,865 shares of the business services provider’s stock valued at $423,000 after buying an additional 616 shares during the period. Covestor Ltd raised its position in shares of HNI by 219.9% during the third quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after acquiring an additional 508 shares during the last quarter. Summit Global Investments lifted its stake in shares of HNI by 2.1% in the third quarter. Summit Global Investments now owns 25,262 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 522 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in HNI by 1.9% in the third quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider’s stock valued at $12,839,000 after acquiring an additional 4,358 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

Insiders Place Their Bets

In other news, Director Miguel M. Calado sold 5,299 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the completion of the sale, the director now owns 31,159 shares in the company, valued at $1,650,180.64. The trade was a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

HNI Stock Performance

Shares of HNI stock opened at $56.17 on Monday. The business has a 50-day moving average price of $53.25 and a two-hundred day moving average price of $49.95. HNI Co. has a 1-year low of $38.55 and a 1-year high of $57.59. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.68 billion, a P/E ratio of 21.77, a PEG ratio of 1.58 and a beta of 0.85.

HNI (NYSE:HNI) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, analysts anticipate that HNI Co. will post 2.93 EPS for the current year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, November 18th. HNI’s dividend payout ratio is presently 51.16%.

About HNI

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.