Diversified Trust Co Invests $271,000 in HNI Co. (NYSE:HNI)

Diversified Trust Co acquired a new stake in shares of HNI Co. (NYSE:HNI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,030 shares of the business services provider’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in HNI during the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its holdings in shares of HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after acquiring an additional 228 shares during the period. Daiwa Securities Group Inc. purchased a new stake in HNI during the first quarter valued at $202,000. Hennion & Walsh Asset Management Inc. bought a new position in HNI in the first quarter valued at about $245,000. Finally, Bailard Inc. purchased a new position in HNI in the second quarter worth about $248,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Insider Activity at HNI

In other HNI news, CFO Marshall H. Bridges sold 4,138 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.50, for a total transaction of $221,383.00. Following the sale, the chief financial officer now directly owns 78,346 shares of the company’s stock, valued at $4,191,511. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.32, for a total value of $3,556,070.64. Following the sale, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Marshall H. Bridges sold 4,138 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.50, for a total transaction of $221,383.00. Following the transaction, the chief financial officer now directly owns 78,346 shares of the company’s stock, valued at $4,191,511. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,649 shares of company stock worth $6,556,261. 3.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HNI has been the subject of several research reports. Benchmark upped their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 5th.

HNI Price Performance

NYSE HNI opened at $53.06 on Friday. The business’s fifty day moving average is $51.98 and its 200 day moving average is $47.73. HNI Co. has a fifty-two week low of $32.70 and a fifty-two week high of $56.13. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. The company has a market capitalization of $2.50 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84.

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

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. HNI’s payout ratio is 55.00%.

About HNI

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.