Inspire Advisors LLC Buys 870 Shares of HNI Co. (NYSE:HNI)

Inspire Advisors LLC lifted its stake in shares of HNI Co. (NYSE:HNI) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,526 shares of the business services provider’s stock after acquiring an additional 870 shares during the quarter. Inspire Advisors LLC owned about 0.07% of HNI worth $1,805,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Jupiter Asset Management Ltd. boosted its stake in shares of HNI by 184.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after acquiring an additional 66,387 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in HNI by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after purchasing an additional 544 shares during the period. Russell Investments Group Ltd. boosted its stake in HNI by 30.4% during the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock valued at $2,163,000 after purchasing an additional 11,168 shares during the period. BNP Paribas Financial Markets boosted its stake in HNI by 86.6% during the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock valued at $1,618,000 after purchasing an additional 16,646 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in HNI during the 1st quarter valued at approximately $2,623,000. Institutional investors own 75.26% of the company’s stock.

Insiders Place Their Bets

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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 of the company’s stock, valued at approximately $1,650,180.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,696 shares of company stock worth $6,136,288. 3.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 13th. Benchmark increased their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

HNI Stock Performance

Shares of HNI stock traded down $0.60 during mid-day trading on Friday, reaching $54.94. The stock had a trading volume of 38,657 shares, compared to its average volume of 245,590. The firm’s 50 day simple moving average is $52.32 and its 200 day simple moving average is $48.00. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. HNI Co. has a one year low of $32.70 and a one year high of $56.13. The firm has a market cap of $2.60 billion, a PE ratio of 41.14, a P/E/G ratio of 1.40 and a beta of 0.84.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. The company had revenue of $623.70 million during the quarter, compared to the consensus estimate of $637.74 million. During the same quarter last year, the company earned $0.55 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that HNI Co. will post 3.17 EPS for the current year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.40%. HNI’s dividend payout ratio is currently 97.78%.

About HNI

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.