Nations Financial Group Inc. IA ADV Cuts Stake in HNI Co. (NYSE:HNI)

Nations Financial Group Inc. IA ADV reduced its holdings in shares of HNI Co. (NYSE:HNI) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,760 shares of the business services provider’s stock after selling 1,951 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in HNI were worth $202,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HNI. Russell Investments Group Ltd. increased its position in shares of HNI by 30.4% in the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock valued at $2,163,000 after purchasing an additional 11,168 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of HNI by 27.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,855 shares of the business services provider’s stock valued at $761,000 after purchasing an additional 3,671 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of HNI in the 1st quarter valued at approximately $2,623,000. Jupiter Asset Management Ltd. increased its position in shares of HNI by 184.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock valued at $4,618,000 after purchasing an additional 66,387 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of HNI by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after purchasing an additional 287,735 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Price Performance

HNI opened at $55.22 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. HNI Co. has a 52-week low of $38.55 and a 52-week high of $57.59. The company has a 50 day moving average of $52.63 and a two-hundred day moving average of $49.37. The company has a market cap of $2.64 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.61 and a beta of 0.85.

HNI (NYSE:HNI) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $672.20 million during the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. On average, analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.33 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.39%. HNI’s dividend payout ratio is presently 51.16%.

Insider Activity at HNI

In related news, Director Mary A. Bell sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total transaction of $259,250.00. Following the transaction, the director now owns 74,401 shares of the company’s stock, valued at approximately $3,857,691.85. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now owns 11,902 shares in the company, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,480 shares of company stock worth $2,041,210 in the last 90 days. Corporate insiders own 3.36% of the company’s stock.

Analysts Set New Price Targets

HNI has been the subject of a number of recent research reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Benchmark raised their target price on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

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.