Larson Financial Group LLC Purchases Shares of 28,558 HNI Co. (NYSE:HNI)

Larson Financial Group LLC purchased a new stake in shares of HNI Co. (NYSE:HNI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 28,558 shares of the business services provider's stock, valued at approximately $1,286,000. Larson Financial Group LLC owned about 0.06% of HNI at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. increased its stake in shares of HNI by 184.7% during the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider's stock worth $4,618,000 after purchasing an additional 66,387 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of HNI by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider's stock worth $1,840,000 after buying an additional 544 shares in the last quarter. Russell Investments Group Ltd. boosted its position 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 valued at $2,163,000 after acquiring an additional 11,168 shares during the period. Oxford Financial Group LTD. LLC grew its stake in shares of HNI by 58.0% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider's stock valued at $2,170,000 after acquiring an additional 19,032 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of HNI by 86.6% in the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider's stock valued at $1,618,000 after acquiring an additional 16,646 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com raised shares of HNI from a "buy" rating to a "strong-buy" rating in a report on Thursday, August 15th. Benchmark increased their price target on HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, July 26th.

HNI Price Performance

HNI traded up $0.12 on Thursday, hitting $52.20. 181,496 shares of the stock were exchanged, compared to its average volume of 247,289. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 1.42 and a beta of 0.86. 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 $31.02 and a 12 month high of $56.13. The business has a 50-day moving average of $50.19 and a two-hundred day moving average of $46.15.

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

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd will be paid a $0.33 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.53%. HNI's payout ratio is 97.78%.

Insider Transactions at HNI

In other HNI news, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now owns 31,159 shares in the company, valued at $1,650,180.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey D. Lorenger sold 16,450 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $53.09, for a total transaction of $873,330.50. Following the sale, the chief executive officer now owns 296,892 shares of the company's stock, valued at approximately $15,761,996.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Miguel M. Calado sold 5,299 shares of the company's stock in a transaction dated 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 directly owns 31,159 shares of the company's stock, valued at approximately $1,650,180.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,029 shares of company stock valued at $6,766,593. Corporate 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.