HNI Corporation (HNI) Stake Lessened by Nationwide Fund Advisors

Nationwide Fund Advisors reduced its holdings in HNI Corporation (NYSE:HNI) by 17.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,673 shares of the business services provider’s stock after selling 21,482 shares during the period. Nationwide Fund Advisors owned approximately 0.23% of HNI Corporation worth $4,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of HNI. Municipal Employees Retirement System of Michigan boosted its stake in shares of HNI Corporation by 2.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,640 shares of the business services provider’s stock worth $951,000 after purchasing an additional 520 shares during the period. Thrivent Financial For Lutherans boosted its stake in shares of HNI Corporation by 9.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 8,380 shares of the business services provider’s stock worth $386,000 after purchasing an additional 730 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of HNI Corporation by 3.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,163 shares of the business services provider’s stock worth $1,205,000 after purchasing an additional 791 shares during the period. Swiss National Bank boosted its stake in shares of HNI Corporation by 1.4% during the 1st quarter. Swiss National Bank now owns 73,100 shares of the business services provider’s stock worth $3,369,000 after purchasing an additional 1,000 shares during the period. Finally, Comerica Bank boosted its stake in shares of HNI Corporation by 3.7% during the 1st quarter. Comerica Bank now owns 34,256 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 1,222 shares during the period. 68.99% of the stock is owned by institutional investors and hedge funds.

HNI has been the subject of a number of recent analyst reports. TheStreet cut shares of HNI Corporation from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of HNI Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Raymond James Financial, Inc. raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Wednesday, August 23rd. UBS AG raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Finally, Citigroup Inc. raised shares of HNI Corporation to an “outperform” rating and set a $42.00 price target for the company in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.50.

In other HNI Corporation news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $37.78, for a total value of $453,360.00. Following the sale, the chairman now directly owns 216,996 shares of the company’s stock, valued at $8,198,108.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.16% of the company’s stock.

Shares of HNI Corporation (NYSE HNI) opened at 42.17 on Wednesday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 30.29 and a beta of 1.46. The company’s 50-day moving average is $39.11 and its 200-day moving average is $40.79. HNI Corporation has a one year low of $34.60 and a one year high of $56.94.

HNI Corporation (NYSE:HNI) last posted its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). The firm had revenue of $514.50 million for the quarter, compared to analyst estimates of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, equities analysts predict that HNI Corporation will post $2.45 EPS for the current year.

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About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Institutional Ownership by Quarter for HNI Corporation (NYSE:HNI)

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