SG Americas Securities LLC Has $257,000 Stock Position in HNI Corporation $HNI

SG Americas Securities LLC reduced its holdings in HNI Corporation (NYSE:HNI) by 81.9% in the 1st quarter, Holdings Channel reports. The fund owned 7,695 shares of the business services provider’s stock after selling 34,926 shares during the period. SG Americas Securities LLC’s holdings in HNI were worth $257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cooke & Bieler LP boosted its holdings in shares of HNI by 23.0% during the fourth quarter. Cooke & Bieler LP now owns 754,493 shares of the business services provider’s stock worth $31,719,000 after purchasing an additional 140,971 shares during the period. Millennium Management LLC purchased a new stake in HNI in the 1st quarter worth approximately $10,666,000. Jane Street Group LLC purchased a new stake in HNI in the 1st quarter worth approximately $10,301,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in HNI by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,290 shares of the business services provider’s stock worth $6,311,000 after buying an additional 9,730 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of HNI by 23.6% during the 1st quarter. Intech Investment Management LLC now owns 36,698 shares of the business services provider’s stock valued at $1,628,000 after buying an additional 7,000 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

HNI has been the topic of several research analyst reports. Benchmark lowered their price target on shares of HNI from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings cut HNI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.00.

HNI Trading Up 2.5%

NYSE:HNI opened at $39.99 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 97.55, a P/E/G ratio of 0.49 and a beta of 0.90. The stock’s 50 day moving average price is $34.20 and its 200 day moving average price is $39.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 1.39. HNI Corporation has a 52 week low of $28.93 and a 52 week high of $53.29.

HNI (NYSE:HNI) last posted its earnings results on Wednesday, May 6th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The company’s revenue was up 124.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, research analysts forecast that HNI Corporation will post 4 EPS for the current fiscal year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 29th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, May 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from HNI’s previous quarterly dividend of $0.34. HNI’s payout ratio is 341.46%.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.