State Street Corp Increases Holdings in HNI Co. (NYSE:HNI)

State Street Corp grew its position in shares of HNI Co. (NYSE:HNI - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,876,542 shares of the business services provider's stock after purchasing an additional 20,717 shares during the period. State Street Corp owned about 3.93% of HNI worth $101,033,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of HNI. CWM LLC boosted its stake in HNI by 3.2% in the third quarter. CWM LLC now owns 7,332 shares of the business services provider's stock worth $395,000 after buying an additional 225 shares in the last quarter. GAMMA Investing LLC lifted its stake in HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock worth $36,000 after purchasing an additional 228 shares during the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of HNI by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider's stock worth $753,000 after buying an additional 287 shares during the period. SummerHaven Investment Management LLC boosted its holdings in HNI by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider's stock valued at $1,222,000 after acquiring an additional 338 shares during the period. Finally, Versor Investments LP increased its stake in HNI by 5.2% in the 2nd quarter. Versor Investments LP now owns 8,100 shares of the business services provider's stock worth $365,000 after purchasing an additional 400 shares during the period. 75.26% of the stock is currently owned by institutional investors.

Insider Transactions at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the sale, the director now directly owns 37,880 shares of the company's stock, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 approximately $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company's stock.

Analysts Set New Price Targets

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

HNI Trading Up 0.7 %

Shares of NYSE:HNI traded up $0.36 during midday trading on Monday, hitting $54.13. 351,337 shares of the stock traded hands, compared to its average volume of 257,279. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.59 billion, a PE ratio of 20.98, a P/E/G ratio of 1.55 and a beta of 0.88. HNI Co. has a one year low of $39.95 and a one year high of $58.42. The business's 50 day moving average is $54.25 and its two-hundred day moving average is $51.14.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share 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 last year, the business posted $0.93 EPS. The business's revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.33 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.32 annualized dividend and a yield of 2.44%. HNI's dividend payout ratio (DPR) is presently 51.16%.

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.