PharVision Advisers LLC Buys Shares of 5,961 HNI Corporation $HNI

PharVision Advisers LLC bought a new stake in HNI Corporation (NYSE:HNI) during the 1st quarter, Holdings Channel reports. The firm bought 5,961 shares of the business services provider’s stock, valued at approximately $264,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in HNI in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of HNI by 88.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. Quarry LP lifted its stake in shares of HNI by 4,741.5% in the 1st quarter. Quarry LP now owns 1,985 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 1,944 shares during the last quarter. Allworth Financial LP lifted its stake in shares of HNI by 3,984.9% in the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider’s stock valued at $92,000 after purchasing an additional 2,112 shares during the last quarter. Finally, Harbour Investments Inc. acquired a new position in shares of HNI in the 1st quarter valued at $107,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jason Dean Hagedorn sold 1,440 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the transaction, the insider owned 36,711 shares in the company, valued at $1,727,986.77. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Miguel M. Calado sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $50.00, for a total value of $100,000.00. Following the transaction, the director owned 31,828 shares in the company, valued at $1,591,400. This represents a 5.91% 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 worth $270,818 in the last 90 days. 3.37% of the stock is currently owned by company insiders.

HNI Trading Up 0.8%

HNI opened at $46.62 on Friday. HNI Corporation has a one year low of $39.76 and a one year high of $58.42. The company has a market cap of $2.14 billion, a P/E ratio of 15.14, a PEG ratio of 0.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46. The business’s 50-day simple moving average is $48.00 and its 200-day simple moving average is $46.08.

HNI (NYSE:HNI) last issued its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.25. HNI had a net margin of 5.73% and a return on equity of 20.08%. 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 business posted $0.79 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

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

Analyst Upgrades and Downgrades

HNI has been the topic of several recent analyst reports. Longbow Research began coverage on HNI in a research note on Friday, May 16th. They issued a “buy” rating and a $70.00 price target on the stock. Wall Street Zen upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Susquehanna initiated coverage on shares of HNI in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, HNI presently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

HNI 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.