Principal Financial Group Inc. Boosts Holdings in HNI Co. (NYSE:HNI)

Principal Financial Group Inc. increased its position in HNI Co. (NYSE:HNI) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,465 shares of the business services provider’s stock after purchasing an additional 4,358 shares during the quarter. Principal Financial Group Inc.’s holdings in HNI were worth $12,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HNI. Russell Investments Group Ltd. lifted its stake in shares of HNI by 30.4% in the first quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock worth $2,163,000 after acquiring an additional 11,168 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in HNI by 27.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,855 shares of the business services provider’s stock worth $761,000 after purchasing an additional 3,671 shares during the last quarter. Jupiter Asset Management Ltd. raised 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 in the last quarter. Vanguard Group Inc. raised its holdings in HNI by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after acquiring an additional 287,735 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in HNI during the 1st quarter worth $4,267,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HNI

In related news, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey D. Lorenger sold 16,450 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $53.09, for a total transaction of $873,330.50. Following the transaction, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at $15,761,996.28. The trade was a 5.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,480 shares of company stock worth $2,041,210. 3.36% of the stock is currently owned by company insiders.

HNI Stock Performance

Shares of HNI opened at $54.88 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. HNI Co. has a 12-month low of $38.55 and a 12-month high of $57.59. The business’s fifty day moving average price is $52.77 and its 200 day moving average price is $49.54. The stock has a market capitalization of $2.62 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85.

HNI (NYSE:HNI) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. During the same period in the previous year, the business posted $0.93 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts forecast that HNI Co. will post 2.93 EPS for the current year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Monday, November 18th. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HNI shares. Benchmark increased their price target on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

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.