Amalgamated Bank Has $746,000 Stake in HNI Co. (NYSE:HNI)

Amalgamated Bank reduced its stake in HNI Co. (NYSE:HNI) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,862 shares of the business services provider’s stock after selling 551 shares during the quarter. Amalgamated Bank’s holdings in HNI were worth $746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in HNI by 30.4% in the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock worth $2,163,000 after buying an additional 11,168 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in HNI by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,855 shares of the business services provider’s stock worth $761,000 after purchasing an additional 3,671 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in HNI by 184.7% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of HNI by 5.5% during 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 period. Finally, Edgestream Partners L.P. acquired a new position in shares of HNI during the first quarter valued at $4,267,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary A. Bell sold 5,000 shares of HNI stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $51.85, for a total value of $259,250.00. Following the completion of the transaction, the director now directly owns 74,401 shares of the company’s stock, valued at approximately $3,857,691.85. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,480 shares of company stock worth $2,041,210. Insiders own 3.36% of the company’s stock.

HNI Stock Performance

HNI opened at $54.88 on Friday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.58 and a beta of 0.85. The company has a quick ratio of 0.68, a current ratio of 1.09 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 business has a 50 day moving average of $52.77 and a 200-day moving average of $49.49.

HNI (NYSE:HNI) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping 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 company had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. During the same quarter last year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid 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 2.41%. HNI’s payout ratio is 51.16%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HNI shares. Benchmark increased their price target on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com raised 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.