Intech Investment Management LLC Acquires New Stake in HNI Co. (NYSE:HNI)

Intech Investment Management LLC acquired a new position in shares of HNI Co. (NYSE:HNI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,695 shares of the business services provider's stock, valued at approximately $2,245,000. Intech Investment Management LLC owned approximately 0.09% of HNI as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of HNI during the third quarter worth about $450,000. The Manufacturers Life Insurance Company boosted its holdings in HNI by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider's stock valued at $1,161,000 after purchasing an additional 1,004 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in HNI in the second quarter valued at approximately $2,148,000. Vanguard Group Inc. boosted 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 purchasing an additional 287,735 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in HNI by 4,746.7% in the third quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock valued at $117,000 after purchasing an additional 2,136 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Stock Performance

NYSE HNI traded up $1.35 on Monday, reaching $57.52. The stock had a trading volume of 421,566 shares, compared to its average volume of 257,061. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a 12-month low of $38.55 and a 12-month high of $58.42. The business's 50-day moving average price is $53.25 and its 200 day moving average price is $49.98. The stock has a market cap of $2.75 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.60 and a beta of 0.85.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business had revenue of $672.20 million during the quarter, compared to analysts' expectations of $712.75 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company's quarterly revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, November 18th. HNI's dividend payout ratio (DPR) is presently 51.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised HNI from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st.

Insider Transactions at HNI

In other HNI news, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction 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 transaction, the director now owns 31,159 shares in the company, valued at approximately $1,650,180.64. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares of the company's stock, valued at $642,708. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.36% of the company's stock.

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.