HNI Corporation (NYSE:HNI) Stake Reduced by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio decreased its stake in HNI Corporation (NYSE:HNI) by 2.9% during the first quarter, Holdings Channel reports. The institutional investor owned 3,182 shares of the business services provider’s stock after selling 95 shares during the period. Public Employees Retirement System of Ohio’s holdings in HNI Corporation were worth $147,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. KCG Holdings Inc. acquired a new stake in HNI Corporation during the first quarter valued at approximately $205,000. Laurion Capital Management LP acquired a new stake in HNI Corporation during the first quarter valued at approximately $221,000. Bank of Montreal Can boosted its stake in HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after buying an additional 1,030 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in HNI Corporation during the first quarter valued at approximately $284,000. Finally, SG Americas Securities LLC boosted its stake in HNI Corporation by 64.9% in the first quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock valued at $316,000 after buying an additional 2,695 shares in the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.
Shares of HNI Corporation (NYSE:HNI) traded down 0.56% on Friday, reaching $35.47. The company’s stock had a trading volume of 272,963 shares. The company has a market cap of $1.56 billion, a P/E ratio of 25.48 and a beta of 1.41. The company’s 50 day moving average price is $38.40 and its 200 day moving average price is $43.64. HNI Corporation has a 12-month low of $35.02 and a 12-month high of $56.96.
HNI Corporation (NYSE:HNI) last posted its earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The firm had revenue of $514.50 million for the quarter, compared to analysts’ expectations of $516.10 million. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. Analysts forecast that HNI Corporation will post $2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.21%. HNI Corporation’s dividend payout ratio (DPR) is 81.43%.
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Several brokerages have issued reports on HNI. BidaskClub lowered HNI Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Zacks Investment Research lowered HNI Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, TheStreet lowered HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $47.00.
In related news, Chairman Stanley A. Askren sold 11,264 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $46.01, for a total value of $518,256.64. Following the sale, the chairman now owns 204,996 shares in the company, valued at approximately $9,431,865.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.16% of the stock is currently owned by corporate insiders.
HNI Corporation Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line 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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