Victory Capital Management Inc. Sells 28,882 Shares of HNI Co. (NYSE:HNI)

Victory Capital Management Inc. lowered its position in shares of HNI Co. (NYSE:HNI - Free Report) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,082 shares of the business services provider's stock after selling 28,882 shares during the period. Victory Capital Management Inc. owned approximately 0.50% of HNI worth $12,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HNI. CWM LLC lifted its position in HNI by 3.2% during the third quarter. CWM LLC now owns 7,332 shares of the business services provider's stock valued at $395,000 after purchasing an additional 225 shares during the period. GAMMA Investing LLC increased its position in shares of HNI by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider's stock worth $1,222,000 after purchasing an additional 338 shares during the period. Versor Investments LP boosted its holdings in shares of HNI by 5.2% in the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider's stock worth $365,000 after buying an additional 400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in HNI by 6.4% during the second quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider's stock valued at $326,000 after buying an additional 436 shares during the period. 75.26% of the stock is owned by institutional investors.

HNI Trading Up 0.9 %

HNI stock opened at $55.30 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI Co. has a 12-month low of $38.55 and a 12-month high of $57.59. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.56 and a beta of 0.85. The firm has a 50 day moving average of $53.07 and a 200 day moving average of $49.79.

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

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, November 18th. HNI's payout ratio is currently 51.16%.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey D. Lorenger sold 9,447 shares of the business's stock in a transaction on 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 owns 296,892 shares in the company, valued at $15,859,970.64. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,480 shares of company stock valued at $1,781,960. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HNI. Benchmark lifted their price target on shares of 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 report on Thursday, October 31st.

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.