Lucus Advisors LLC bought a new stake in HNI Corp. (NYSE:HNI) during the third quarter, Holdings Channel reports. The fund bought 9,870 shares of the company’s stock, valued at approximately $393,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Iowa State Bank purchased a new position in shares of HNI Corp. during the second quarter valued at approximately $110,000. LS Investment Advisors LLC boosted its position in shares of HNI Corp. by 76.3% in the second quarter. LS Investment Advisors LLC now owns 2,736 shares of the company’s stock valued at $127,000 after buying an additional 1,184 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of HNI Corp. during the second quarter valued at approximately $140,000. Bank of Montreal Can purchased a new position in shares of HNI Corp. during the second quarter valued at approximately $174,000. Finally, Shelton Capital Management purchased a new position in shares of HNI Corp. during the second quarter valued at approximately $216,000. 67.90% of the stock is owned by hedge funds and other institutional investors.
HNI Corp. (NYSE:HNI) traded up 0.55% on Monday, reaching $55.20. The company’s stock had a trading volume of 77,094 shares. HNI Corp. has a 12 month low of $29.84 and a 12 month high of $56.96. The company has a 50-day moving average price of $43.32 and a 200 day moving average price of $47.08. The company has a market cap of $2.46 billion, a P/E ratio of 23.49 and a beta of 1.29.
HNI Corp. (NYSE:HNI) last posted its earnings results on Wednesday, October 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $584.60 million for the quarter, compared to analyst estimates of $583.70 million. HNI Corp. had a return on equity of 24.76% and a net margin of 4.82%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that HNI Corp. will post $2.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 21st will be paid a $0.275 dividend. The ex-dividend date is Thursday, November 17th. This represents a $1.10 annualized dividend and a yield of 2.00%. HNI Corp.’s dividend payout ratio (DPR) is presently 46.81%.
Several research analysts recently commented on the company. Zacks Investment Research upgraded HNI Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Raymond James Financial Inc. lowered HNI Corp. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th. Finally, Seaport Global Securities assumed coverage on HNI Corp. in a research note on Friday, November 4th. They set a “neutral” rating for the company.
In related news, Director Ronald V. Waters sold 5,000 shares of the business’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 completion of the sale, the director now directly owns 36,230 shares in the company, valued at approximately $1,619,481. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is owned by corporate insiders.
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.