Inspire Advisors LLC Has $1.81 Million Stock Position in HNI Co. (NYSE:HNI)

Inspire Advisors LLC grew its position in HNI Co. (NYSE:HNI) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,526 shares of the business services provider’s stock after buying an additional 870 shares during the period. Inspire Advisors LLC’s holdings in HNI were worth $1,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HNI. Hennion & Walsh Asset Management Inc. bought a new position in shares of HNI in the 1st quarter worth $245,000. BNP Paribas Financial Markets boosted its position in shares of HNI by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 16,646 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of HNI by 11.7% in the 1st quarter. Nordea Investment Management AB now owns 89,002 shares of the business services provider’s stock worth $4,047,000 after purchasing an additional 9,329 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of HNI in the 1st quarter worth $202,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of HNI by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock worth $1,840,000 after purchasing an additional 544 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HNI. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 13th.

HNI Stock Down 1.1 %

Shares of NYSE:HNI traded down $0.60 during midday trading on Friday, reaching $54.94. The company had a trading volume of 38,657 shares, compared to its average volume of 245,590. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $52.32 and its 200 day moving average price is $48.00. The stock has a market cap of $2.60 billion, a PE ratio of 41.14, a P/E/G ratio of 1.40 and a beta of 0.84. HNI Co. has a 1-year low of $32.70 and a 1-year high of $56.13.

HNI (NYSE:HNI) last released its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. The business had revenue of $623.70 million for the quarter, compared to the consensus estimate of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. HNI’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. Research analysts forecast that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio is currently 97.78%.

Insider Activity at HNI

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HNI news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven M. Bradford sold 5,976 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.15, for a total value of $317,624.40. Following the transaction, the vice president now directly owns 61,642 shares in the company, valued at approximately $3,276,272.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,696 shares of company stock valued at $6,136,288. 3.36% of the stock is owned by insiders.

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.