HNI Co. (NYSE:HNI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of HNI Co. (NYSE:HNI - Free Report) by 10.8% during the third quarter, according to the company in its most recent 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 0.50% of HNI worth $12,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HNI. Vanguard Group Inc. grew its position 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 last quarter. Hantz Financial Services Inc. bought a new stake in shares of HNI during the second quarter valued at approximately $2,189,000. Panagora Asset Management Inc. bought a new stake in shares of HNI during the second quarter valued at approximately $2,148,000. Clifford Capital Partners LLC grew its holdings in HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider's stock worth $13,125,000 after buying an additional 37,155 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in HNI during the second quarter worth $1,470,000. Institutional investors own 75.26% of the company's stock.

HNI Trading Up 0.5 %

NYSE HNI traded up $0.27 on Thursday, hitting $55.56. The company's stock had a trading volume of 210,110 shares, compared to its average volume of 254,633. The firm has a market cap of $2.66 billion, a P/E ratio of 21.48, a PEG ratio of 1.56 and a beta of 0.85. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company's 50-day simple moving average is $53.07 and its 200 day simple moving average is $49.79. HNI Co. has a 52-week low of $38.55 and a 52-week high of $57.59.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $0.93 earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. Research analysts predict that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The firm 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 $0.33 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.38%. HNI's payout ratio is 51.16%.

Insider Activity

In other news, CEO Jeffrey D. Lorenger sold 16,450 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 296,892 shares of the company's stock, valued at approximately $15,761,996.28. This represents a 5.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,650,180.64. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,480 shares of company stock worth $1,781,960 over the last ninety days. Corporate insiders own 3.36% of the company's stock.

Wall Street Analysts Forecast Growth

HNI has been the topic of a number of recent research reports. Benchmark upped their price target on HNI from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, July 26th. StockNews.com upgraded HNI from a "buy" rating to a "strong-buy" rating in a research note 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.