Martingale Asset Management L P Grows Stake in HNI Co. (NYSE:HNI)

Martingale Asset Management L P boosted its position in shares of HNI Co. (NYSE:HNI) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,236 shares of the business services provider’s stock after purchasing an additional 4,258 shares during the quarter. Martingale Asset Management L P’s holdings in HNI were worth $3,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in HNI during the 3rd quarter worth $450,000. The Manufacturers Life Insurance Company increased its holdings in HNI by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock worth $1,161,000 after purchasing an additional 1,004 shares during the period. Intech Investment Management LLC purchased a new position in HNI during the 3rd quarter worth $2,245,000. Panagora Asset Management Inc. purchased a new position in HNI during the 2nd quarter worth $2,148,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 2,136 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

HNI Trading Up 0.7 %

Shares of NYSE:HNI opened at $56.65 on Friday. HNI Co. has a 12-month low of $38.63 and a 12-month high of $58.42. The business’s fifty day simple moving average is $53.65 and its 200-day simple moving average is $50.30. The company has a market capitalization of $2.71 billion, a PE ratio of 21.96, a P/E/G ratio of 1.60 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.

HNI (NYSE:HNI) last announced its quarterly earnings results 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. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.93 EPS. As a group, equities research analysts predict that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

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 is Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.33%. HNI’s payout ratio is 51.16%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction 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 sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.36% of the company’s stock.

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.