Alliancebernstein L.P. reduced its position in HNI Co. (NYSE:HNI) by 34.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 71,885 shares of the business services provider’s stock after selling 37,524 shares during the period. Alliancebernstein L.P. owned about 0.17% of HNI worth $2,844,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Globeflex Capital L P lifted its stake in HNI by 2.5% in the 4th quarter. Globeflex Capital L P now owns 21,692 shares of the business services provider’s stock valued at $748,000 after purchasing an additional 524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HNI by 26.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,398 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 1,135 shares during the last quarter. Aperio Group LLC lifted its stake in HNI by 2.0% in the 4th quarter. Aperio Group LLC now owns 82,653 shares of the business services provider’s stock valued at $2,848,000 after purchasing an additional 1,598 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in HNI by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 66,933 shares of the business services provider’s stock valued at $2,305,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in HNI in the 1st quarter valued at about $68,000. Institutional investors and hedge funds own 75.17% of the company’s stock.
Several research firms have weighed in on HNI. Sidoti raised shares of HNI from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, March 8th. TheStreet raised shares of HNI from a “c+” rating to a “b” rating in a report on Thursday, May 27th.
HNI (NYSE:HNI) last announced its earnings results on Wednesday, April 28th. The business services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.27. HNI had a net margin of 4.10% and a return on equity of 14.29%. The company had revenue of $484.30 million for the quarter, compared to analysts’ expectations of $458.91 million. During the same period last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 21st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 20th. This is a boost from HNI’s previous quarterly dividend of $0.31. This represents a $1.24 annualized dividend and a dividend yield of 2.71%.
In related news, VP Donna D. Meade sold 1,038 shares of HNI stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $41.22, for a total value of $42,786.36. Following the transaction, the vice president now directly owns 26,478 shares of the company’s stock, valued at $1,091,423.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Miguel M. Calado sold 4,000 shares of HNI stock in a transaction that occurred on Monday, April 19th. The shares were sold at an average price of $40.37, for a total transaction of $161,480.00. Following the completion of the transaction, the director now directly owns 42,741 shares in the company, valued at $1,725,454.17. The disclosure for this sale can be found here. Insiders have sold 26,705 shares of company stock worth $1,142,024 over the last ninety days. Insiders own 2.70% of the company’s stock.
HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Taiwan, and Singapore. The company operates through two segments, Workplace Furnishings and Residential Building Products.
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