Hantz Financial Services Inc. Invests $2.19 Million in HNI Co. (NYSE:HNI)

Hantz Financial Services Inc. acquired a new stake in shares of HNI Co. (NYSE:HNI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 48,617 shares of the business services provider's stock, valued at approximately $2,189,000. Hantz Financial Services Inc. owned about 0.10% of HNI as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HNI. Norges Bank purchased a new stake in HNI during the 4th quarter valued at $13,368,000. Vanguard Group Inc. lifted 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 during the period. Franklin Resources Inc. boosted its position in HNI by 20.0% in the fourth quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider's stock worth $51,744,000 after purchasing an additional 206,419 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of HNI during the 1st quarter valued at about $4,267,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in shares of HNI during the 4th quarter valued at about $3,906,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HNI news, CFO Marshall H. Bridges sold 8,551 shares of the firm's stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $45.50, for a total transaction of $389,070.50. Following the sale, the chief financial officer now directly owns 76,674 shares of the company's stock, valued at $3,488,667. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of the business's 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 transaction, the chief executive officer now owns 296,892 shares of the company's stock, valued at $14,642,713.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall H. Bridges sold 8,551 shares of the firm's stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $45.50, for a total transaction of $389,070.50. Following the transaction, the chief financial officer now directly owns 76,674 shares of the company's stock, valued at $3,488,667. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,580 shares of company stock valued at $7,615,363. Company insiders own 3.36% of the company's stock.

Analyst Ratings Changes

HNI has been the topic of a number of research reports. Benchmark raised their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 15th.

HNI Stock Performance

HNI traded up $0.70 during midday trading on Friday, reaching $53.85. The company had a trading volume of 213,165 shares, compared to its average volume of 248,217. The business has a 50-day moving average of $49.53 and a two-hundred day moving average of $45.91. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. HNI Co. has a 1 year low of $31.02 and a 1 year high of $56.13. The company has a market cap of $2.55 billion, a P/E ratio of 39.89, a P/E/G ratio of 1.41 and a beta of 0.86.

HNI (NYSE:HNI - Get Free Report) last released its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The company had revenue of $623.70 million during the quarter, compared to analyst estimates of $637.74 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that HNI Co. will post 3.17 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 23rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, August 23rd. HNI's dividend payout ratio (DPR) is 97.78%.

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.