Sapient Capital LLC Invests $2.52 Million in HNI Co. (NYSE:HNI)

Sapient Capital LLC acquired a new stake in HNI Co. (NYSE:HNI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,125 shares of the business services provider’s stock, valued at approximately $2,515,000. Sapient Capital LLC owned about 0.13% of HNI as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in HNI. SG Americas Securities LLC acquired a new position in HNI in the third quarter valued at about $957,000. Handelsbanken Fonder AB raised its stake in shares of HNI by 24.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 9,726 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 1,910 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of HNI by 2.8% in the 3rd quarter. New York State Teachers Retirement System now owns 82,910 shares of the business services provider’s stock worth $2,871,000 after acquiring an additional 2,257 shares during the last quarter. Inspire Investing LLC boosted its position in shares of HNI by 145.6% during the 3rd quarter. Inspire Investing LLC now owns 27,438 shares of the business services provider’s stock worth $950,000 after purchasing an additional 16,268 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in HNI in the 3rd quarter valued at approximately $56,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 8th. Benchmark increased their target price on HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday.

Insider Transactions at HNI

In related news, Director Mary A. Bell sold 2,898 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $43.13, for a total value of $124,990.74. Following the sale, the director now owns 76,183 shares of the company’s stock, valued at $3,285,772.79. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other HNI news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the sale, the director now directly owns 40,718 shares of the company’s stock, valued at approximately $1,791,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary A. Bell sold 2,898 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $43.13, for a total value of $124,990.74. Following the completion of the transaction, the director now owns 76,183 shares in the company, valued at approximately $3,285,772.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,374 shares of company stock valued at $749,534. 3.36% of the stock is currently owned by corporate insiders.

HNI Price Performance

Shares of HNI opened at $44.19 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 0.61. HNI Co. has a fifty-two week low of $24.81 and a fifty-two week high of $45.47. The company has a market cap of $2.09 billion, a P/E ratio of 32.73, a PEG ratio of 1.13 and a beta of 0.87. The firm’s 50 day moving average price is $43.29 and its 200 day moving average price is $41.10.

HNI (NYSE:HNI) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The business had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, research analysts forecast that HNI Co. will post 3.1 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, February 23rd. HNI’s payout ratio is presently 94.81%.

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.