Grace & White Inc. NY Lowers Holdings in HNI Corporation $HNI

Grace & White Inc. NY decreased its stake in HNI Corporation (NYSE:HNI) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 32,350 shares of the business services provider’s stock after selling 1,079 shares during the quarter. Grace & White Inc. NY’s holdings in HNI were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of HNI in the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of HNI by 88.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock worth $31,000 after buying an additional 331 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of HNI by 44.1% in the second quarter. GAMMA Investing LLC now owns 774 shares of the business services provider’s stock worth $38,000 after buying an additional 237 shares during the last quarter. Quarry LP boosted its stake in shares of HNI by 4,741.5% in the first quarter. Quarry LP now owns 1,985 shares of the business services provider’s stock worth $88,000 after buying an additional 1,944 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of HNI by 3,984.9% in the first quarter. Allworth Financial LP now owns 2,165 shares of the business services provider’s stock worth $92,000 after buying an additional 2,112 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Insider Activity at HNI

In other HNI news, Director Miguel M. Calado sold 1,743 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the transaction, the director owned 30,085 shares of the company’s stock, valued at $1,594,505. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised HNI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.00.

HNI Stock Performance

NYSE HNI opened at $43.06 on Friday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.62 and a beta of 0.95. HNI Corporation has a twelve month low of $39.76 and a twelve month 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. The stock has a 50-day moving average of $45.08 and a 200 day moving average of $46.18.

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

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.2%. HNI’s dividend payout ratio is presently 44.16%.

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.