ProShare Advisors LLC Lowers Position in HNI Co. (NYSE:HNI)

ProShare Advisors LLC decreased its position in shares of HNI Co. (NYSE:HNI) by 7.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 295,716 shares of the business services provider’s stock after selling 23,769 shares during the period. ProShare Advisors LLC owned about 0.71% of HNI worth $8,233,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HNI. Vanguard Group Inc. grew its stake in HNI by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,730,584 shares of the business services provider’s stock worth $175,268,000 after purchasing an additional 54,458 shares during the period. State Street Corp grew its position in shares of HNI by 0.3% in the 1st quarter. State Street Corp now owns 1,590,716 shares of the business services provider’s stock worth $58,936,000 after buying an additional 4,725 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of HNI by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,310,874 shares of the business services provider’s stock worth $37,268,000 after acquiring an additional 101,891 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in HNI by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,214,458 shares of the business services provider’s stock valued at $34,527,000 after acquiring an additional 24,261 shares during the period. Finally, Geode Capital Management LLC boosted its stake in HNI by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 741,372 shares of the business services provider’s stock worth $21,077,000 after acquiring an additional 18,321 shares in the last quarter. Institutional investors own 77.27% of the company’s stock.

HNI Stock Up 1.5 %

NYSE:HNI opened at $33.24 on Friday. The firm has a 50-day simple moving average of $29.62 and a two-hundred day simple moving average of $28.18. The firm has a market cap of $1.55 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.82 and a beta of 0.92. HNI Co. has a fifty-two week low of $24.60 and a fifty-two week high of $33.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 1.22.

HNI (NYSE:HNI) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.27. HNI had a net margin of 3.09% and a return on equity of 13.43%. The company had revenue of $563.50 million during the quarter, compared to the consensus estimate of $564.29 million. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. Analysts predict that HNI Co. will post 2.16 earnings per share for the current fiscal year.

HNI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. HNI’s dividend payout ratio (DPR) is presently 78.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of HNI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Benchmark lifted their price objective on HNI from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th.

HNI Company Profile

HNI Corporation, together with its subsidiaries, manufactures, sells, and markets 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, and architectural products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF Textiles, HBF, OFM, Respawn, and HNI India brands.