BNP Paribas Financial Markets Sells 2,283 Shares of HNI Co. (NYSE:HNI)

BNP Paribas Financial Markets reduced its holdings in shares of HNI Co. (NYSE:HNIFree Report) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,213 shares of the business services provider’s stock after selling 2,283 shares during the period. BNP Paribas Financial Markets’ holdings in HNI were worth $804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SG Capital Management LLC bought a new stake in shares of HNI in the 3rd quarter valued at approximately $3,131,000. Sapient Capital LLC acquired a new position in HNI during the fourth quarter worth $2,515,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of HNI by 118.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,060 shares of the business services provider’s stock valued at $2,599,000 after acquiring an additional 40,661 shares during the period. Vanguard Group Inc. boosted its stake in shares of HNI by 0.7% in 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 purchasing an additional 36,988 shares in the last quarter. Finally, L2 Asset Management LLC bought a new stake in shares of HNI in the 3rd quarter worth about $1,251,000. Institutional investors own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

HNI has been the subject of several analyst reports. Benchmark lifted their price target on shares of HNI from $54.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Read Our Latest Analysis on HNI

HNI Price Performance

Shares of HNI stock opened at $45.83 on Friday. The stock’s fifty day moving average is $44.03 and its 200-day moving average is $42.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 1.29. HNI Co. has a 52 week low of $25.06 and a 52 week high of $47.60. The stock has a market capitalization of $2.17 billion, a PE ratio of 33.96, a PEG ratio of 1.21 and a beta of 0.87.

HNI (NYSE:HNIGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. HNI had a net margin of 2.57% and a return on equity of 17.75%. The firm had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $574.56 million. During the same quarter last year, the company posted $0.13 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. Equities research analysts expect that HNI Co. will post 3.1 EPS for the current fiscal year.

HNI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.88%. This is a positive change from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 23rd. HNI’s dividend payout ratio (DPR) is presently 97.78%.

Insider Activity

In related news, Director Larry B. Porcellato sold 1,796 shares of the firm’s stock in a transaction dated 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 owns 39,100 shares in the company, valued at $1,798,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Larry B. Porcellato sold 1,796 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 39,100 shares in the company, valued at $1,798,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Miguel M. Calado sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the completion of the transaction, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,172 shares of company stock valued at $832,242. Company insiders own 3.36% of the company’s stock.

HNI Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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