4,281 Shares in HNI Co. (NYSE:HNI) Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. purchased a new stake in shares of HNI Co. (NYSE:HNI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,281 shares of the business services provider’s stock, valued at approximately $230,000.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of HNI during the 2nd quarter valued at $29,000. GAMMA Investing LLC raised its position in shares of HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after acquiring an additional 228 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of HNI in the 1st quarter worth about $202,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of HNI during the first quarter valued at approximately $245,000. Finally, Bailard Inc. purchased a new position in HNI during the second quarter valued at $248,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HNI

In other news, VP Steven M. Bradford sold 11,237 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.35, for a total transaction of $543,308.95. Following the transaction, the vice president now owns 61,642 shares of the company’s stock, valued at approximately $2,980,390.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Steven M. Bradford sold 11,237 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.35, for a total value of $543,308.95. Following the completion of the sale, the vice president now owns 61,642 shares in the company, valued at approximately $2,980,390.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Steven M. Bradford sold 5,976 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.15, for a total transaction of $317,624.40. Following the transaction, the vice president now owns 61,642 shares in the company, valued at approximately $3,276,272.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,649 shares of company stock valued at $6,556,261 in the last ninety days. Corporate insiders own 3.36% of the company’s stock.

HNI Stock Performance

Shares of HNI stock opened at $53.06 on Friday. HNI Co. has a 52 week low of $32.70 and a 52 week high of $56.13. The company has a market capitalization of $2.50 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84. The stock’s fifty day moving average is $51.98 and its two-hundred day moving average is $47.73. 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 (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. The company had revenue of $623.70 million during the quarter, compared to analyst estimates of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. As a group, analysts expect that HNI Co. will post 3.17 earnings per share for the current year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a yield of 2.49%. HNI’s payout ratio is currently 55.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on HNI shares. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 5th. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.