Charles Schwab Investment Management Inc. Cuts Stake in HNI Co. (NYSE:HNI)

Charles Schwab Investment Management Inc. cut its stake in HNI Co. (NYSE:HNI) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 789,609 shares of the business services provider’s stock after selling 10,415 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.70% of HNI worth $33,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HNI. Vanguard Group Inc. grew its stake in shares of HNI by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock valued at $182,728,000 after buying an additional 36,988 shares during the period. Advisors Asset Management Inc. increased its stake in HNI by 14.3% during the third quarter. Advisors Asset Management Inc. now owns 267,372 shares of the business services provider’s stock worth $9,259,000 after acquiring an additional 33,528 shares during the last quarter. Clifford Capital Partners LLC raised its holdings in shares of HNI by 0.5% in the 3rd quarter. Clifford Capital Partners LLC now owns 244,058 shares of the business services provider’s stock worth $8,452,000 after purchasing an additional 1,137 shares during the period. Rhumbline Advisers lifted its stake in shares of HNI by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 148,749 shares of the business services provider’s stock valued at $5,151,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of HNI by 1.0% during the 3rd quarter. Swiss National Bank now owns 102,000 shares of the business services provider’s stock worth $3,532,000 after purchasing an additional 1,000 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on HNI. Benchmark lifted their price target on shares of HNI from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Insider Buying and Selling at HNI

In other HNI news, Director Larry B. Porcellato sold 1,796 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total value of $82,616.00. Following the transaction, the director now directly owns 39,100 shares of the company’s stock, valued at approximately $1,798,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Larry B. Porcellato sold 1,796 shares of HNI stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $46.00, for a total value of $82,616.00. Following the completion of the sale, the director now owns 39,100 shares in the company, valued at $1,798,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vincent P. Berger sold 9,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total transaction of $429,067.76. Following the completion of the sale, the executive vice president now directly owns 67,025 shares in the company, valued at $2,882,745.25. The disclosure for this sale can be found here. Insiders sold a total of 19,172 shares of company stock worth $832,242 in the last 90 days. 3.36% of the stock is owned by corporate insiders.

HNI Stock Up 0.4 %

Shares of NYSE:HNI opened at $45.32 on Wednesday. The company has a 50 day moving average of $43.89 and a two-hundred day moving average of $42.11. HNI Co. has a 52-week low of $25.06 and a 52-week high of $47.60. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 1.24 and a beta of 0.87.

HNI (NYSE:HNI) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.19. The firm had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. HNI had a net margin of 2.57% and a return on equity of 17.75%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, analysts forecast that HNI Co. will post 3.1 earnings per share for the current fiscal year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.91%. This is an increase from HNI’s previous quarterly dividend of $0.32. HNI’s dividend payout ratio is currently 94.81%.

HNI Company Profile

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.