Public Employees Retirement Association of Colorado Cuts Stock Holdings in HNI Co. (NYSE:HNI)

Public Employees Retirement Association of Colorado cut its stake in HNI Co. (NYSE:HNI) by 16.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,729 shares of the business services provider’s stock after selling 1,342 shares during the period. Public Employees Retirement Association of Colorado’s holdings in HNI were worth $303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HNI. Norges Bank purchased a new position in shares of HNI in the 4th quarter valued at about $13,368,000. FinTrust Capital Advisors LLC purchased a new position in HNI in the fourth quarter worth approximately $42,000. KBC Group NV grew its holdings in HNI by 18.7% during the 4th quarter. KBC Group NV now owns 8,873 shares of the business services provider’s stock worth $371,000 after acquiring an additional 1,397 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in HNI during the 4th quarter worth approximately $3,906,000. Finally, Oxford Financial Group LTD. LLC increased its position in shares of HNI by 58.0% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock valued at $2,170,000 after purchasing an additional 19,032 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the completion of the sale, the director now directly owns 31,159 shares of the company’s stock, valued at $1,650,180.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HNI news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Friday, July 12th. The shares were sold at an average price of $48.01, for a total value of $96,020.00. Following the transaction, the director now directly owns 39,725 shares in the company, valued at $1,907,197.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the sale, the director now owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. The disclosure for this sale can be found here. Insiders have sold a total of 134,029 shares of company stock valued at $6,766,593 over the last quarter. Company insiders own 3.36% of the company’s stock.

HNI Stock Up 0.2 %

Shares of NYSE:HNI opened at $52.56 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The firm has a 50 day simple moving average of $51.95 and a 200-day simple moving average of $47.10. The company has a market capitalization of $2.49 billion, a PE ratio of 38.93, a P/E/G ratio of 1.38 and a beta of 0.85. HNI Co. has a twelve month low of $32.70 and a twelve month high of $56.13.

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

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were paid a dividend of $0.33 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.51%. HNI’s dividend payout ratio is presently 97.78%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday. Benchmark upped their price objective on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research 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.