HNI Corporation $HNI Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in HNI Corporation (NYSE:HNI) by 1.5% in the first quarter, Holdings Channel.com reports. The fund owned 28,263 shares of the business services provider’s stock after selling 439 shares during the quarter. MetLife Investment Management LLC’s holdings in HNI were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HNI. Nuveen LLC acquired a new stake in HNI in the first quarter valued at $8,309,000. SG Capital Management LLC acquired a new stake in HNI in the fourth quarter valued at $2,518,000. Public Sector Pension Investment Board lifted its holdings in HNI by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 151,555 shares of the business services provider’s stock valued at $6,721,000 after acquiring an additional 32,486 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in HNI in the first quarter valued at $1,412,000. Finally, GAMMA Investing LLC raised its stake in shares of HNI by 2,701.9% during the 1st quarter. GAMMA Investing LLC now owns 23,816 shares of the business services provider’s stock worth $10,560,000 after buying an additional 22,966 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Transactions at HNI

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the completion of the sale, the insider owned 36,711 shares in the company, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miguel M. Calado sold 1,743 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $53.00, for a total value of $92,379.00. Following the sale, the director owned 30,085 shares of the company’s stock, valued at $1,594,505. The trade was a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,383 shares of company stock valued at $270,818 in the last quarter. Company insiders own 3.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HNI shares. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Longbow Research started coverage on HNI in a research note on Friday, May 16th. They set a “buy” rating and a $70.00 price target for the company. Finally, Susquehanna started coverage on HNI in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.00.

HNI Trading Up 1.5%

HNI stock opened at $46.22 on Friday. The stock has a market cap of $2.12 billion, a PE ratio of 15.01, a P/E/G ratio of 0.64 and a beta of 0.94. The stock has a 50-day moving average price of $48.06 and a 200 day moving average price of $46.12. HNI Corporation has a 52 week low of $39.76 and a 52 week high of $58.42. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.25. The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $646.49 million. HNI had a return on equity of 20.08% and a net margin of 5.73%.The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Equities research analysts predict that HNI Corporation will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.9%. HNI’s payout ratio is presently 44.16%.

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.