The ClariVest Asset Management LLC Acquires Shares of 29,197 HNI Corp. (HNI)

The ClariVest Asset Management LLC Acquires Shares of 29,197 HNI Corp. (HNI)

ClariVest Asset Management LLC bought a new position in shares of HNI Corp. (NYSE:HNI) during the second quarter, Holdings Channel reports. The institutional investor bought 29,197 shares of the company’s stock, valued at approximately $1,356,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HNI. Deprince Race & Zollo Inc. increased its position in shares of HNI Corp. by 850.3% in the second quarter. Deprince Race & Zollo Inc. now owns 321,692 shares of the company’s stock worth $14,955,000 after buying an additional 287,841 shares during the period. First Midwest Bank Trust Division purchased a new position in shares of HNI Corp. during the second quarter worth approximately $232,000. Retirement Systems of Alabama increased its position in shares of HNI Corp. by 0.5% in the second quarter. Retirement Systems of Alabama now owns 57,241 shares of the company’s stock worth $2,661,000 after buying an additional 300 shares during the period. Bank of Montreal Can purchased a new position in shares of HNI Corp. during the second quarter worth approximately $174,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of HNI Corp. during the second quarter worth approximately $652,000. Hedge funds and other institutional investors own 68.01% of the company’s stock.

HNI Corp. (NYSE:HNI) traded down 0.89% during mid-day trading on Thursday, hitting $37.75. The stock had a trading volume of 67,419 shares. The stock’s 50-day moving average is $47.38 and its 200 day moving average is $46.51. HNI Corp. has a 52 week low of $29.84 and a 52 week high of $56.96. The company has a market capitalization of $1.68 billion, a P/E ratio of 15.02 and a beta of 1.50.

HNI Corp. (NYSE:HNI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. Equities analysts forecast that HNI Corp. will post $2.55 earnings per share for the current fiscal year.

A number of brokerages have commented on HNI. Zacks Investment Research downgraded HNI Corp. from a “buy” rating to a “sell” rating in a research note on Wednesday, September 21st. Raymond James Financial Inc. downgraded HNI Corp. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th.

In related news, insider Jerald K. Dittmer sold 1,404 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $53.50, for a total transaction of $75,114.00. Following the sale, the insider now owns 22,823 shares of the company’s stock, valued at approximately $1,221,030.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $44.70, for a total value of $223,500.00. Following the sale, the director now directly owns 36,230 shares in the company, valued at approximately $1,619,481. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

About HNI Corp.

HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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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