Inspire Advisors LLC Purchases Shares of 32,656 HNI Co. (NYSE:HNI)

Inspire Advisors LLC acquired a new stake in HNI Co. (NYSE:HNI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 32,656 shares of the business services provider's stock, valued at approximately $1,470,000. Inspire Advisors LLC owned approximately 0.07% of HNI as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of HNI during the second quarter worth approximately $29,000. FinTrust Capital Advisors LLC acquired a new stake in shares of HNI during the fourth quarter worth approximately $42,000. Daiwa Securities Group Inc. acquired a new stake in shares of HNI during the first quarter worth approximately $202,000. Hennion & Walsh Asset Management Inc. bought a new position in HNI during the first quarter worth $245,000. Finally, Bailard Inc. bought a new position in HNI during the second quarter worth $248,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company's stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company's stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey D. Lorenger sold 9,447 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.42, for a total transaction of $504,658.74. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares of the company's stock, valued at approximately $15,859,970.64. The disclosure for this sale can be found here. Insiders sold 134,029 shares of company stock valued at $6,766,593 over the last 90 days. 3.36% of the stock is currently owned by company insiders.

HNI Stock Performance

Shares of HNI traded up $0.89 during midday trading on Friday, hitting $51.81. 230,504 shares of the stock traded hands, compared to its average volume of 248,536. HNI Co. has a 1-year low of $32.11 and a 1-year high of $56.13. The firm has a market capitalization of $2.44 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. The business's 50 day moving average price is $50.88 and its two-hundred day moving average price is $46.46.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $637.74 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts predict that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.55%. The ex-dividend date was Friday, August 23rd. HNI's payout ratio is currently 97.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HNI shares. Benchmark raised their price objective on HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. StockNews.com upgraded HNI from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 15th.

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.