Covestor Ltd Has $40,000 Stock Position in HNI Co. (NYSE:HNI)

Covestor Ltd raised its position in shares of HNI Co. (NYSE:HNI) by 219.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 739 shares of the business services provider’s stock after purchasing an additional 508 shares during the period. Covestor Ltd’s holdings in HNI were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of HNI by 51.6% during the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after buying an additional 228 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of HNI by 1.3% in the second 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 last quarter. Versor Investments LP grew its stake 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 purchasing an additional 400 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of HNI by 6.4% in the second quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider’s stock worth $326,000 after purchasing an additional 436 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 $642,708. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary A. Bell sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total transaction of $259,250.00. Following the transaction, the director now owns 74,401 shares of the company’s stock, valued at $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 ninety days, insiders sold 38,480 shares of company stock worth $2,041,210. Corporate insiders own 3.36% of the company’s stock.

HNI Price Performance

HNI stock opened at $54.88 on Friday. The company’s 50 day moving average price is $52.77 and its two-hundred day moving average price is $49.49. 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 52 week low of $38.55 and a 52 week high of $57.59. The stock has a market cap of $2.62 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.58 and a beta of 0.85.

HNI (NYSE:HNI) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. During the same quarter last year, the business posted $0.93 EPS. HNI’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts predict that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a yield of 2.41%. HNI’s dividend payout ratio is 51.16%.

Wall Street Analyst Weigh In

A number of brokerages have commented on HNI. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Benchmark raised their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

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.