GAMMA Investing LLC Boosts Stock Position in HNI Co. (NYSE:HNI)

GAMMA Investing LLC raised its position in HNI Co. (NYSE:HNI) by 51.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670 shares of the business services provider’s stock after purchasing an additional 228 shares during the period. GAMMA Investing LLC’s holdings in HNI were worth $36,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. purchased a new position in shares of HNI during the 1st quarter worth $245,000. BNP Paribas Financial Markets lifted its position in HNI by 86.6% during the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after buying an additional 16,646 shares during the period. Nordea Investment Management AB boosted its stake in HNI by 11.7% in the 1st quarter. Nordea Investment Management AB now owns 89,002 shares of the business services provider’s stock worth $4,047,000 after buying an additional 9,329 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in HNI in the 1st quarter valued at about $202,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of HNI by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after acquiring an additional 544 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Stock Performance

Shares of NYSE:HNI opened at $54.64 on Friday. The business has a 50-day moving average of $52.41 and a two-hundred day moving average of $48.07. The firm has a market capitalization of $2.58 billion, a PE ratio of 40.47, a P/E/G ratio of 1.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. HNI Co. has a 12 month low of $32.70 and a 12 month high of $56.13.

HNI (NYSE:HNI) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.18. The firm 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%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, research analysts forecast that HNI Co. will post 3.17 earnings per share for the current year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued 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 2.42%. HNI’s payout ratio is 97.78%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th. Benchmark lifted their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other HNI news, 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 completion of the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 0.00 % 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, VP Steven M. Bradford sold 5,976 shares of HNI stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.15, for a total transaction of $317,624.40. Following the sale, the vice president now owns 61,642 shares in the company, valued at $3,276,272.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 120,696 shares of company stock valued at $6,136,288. Company insiders own 3.36% of the company’s stock.

HNI 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.