Citadel Advisors LLC reduced its holdings in HNI Corp (NYSE:HNI) by 25.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,687 shares of the business services provider’s stock after selling 36,609 shares during the period. Citadel Advisors LLC owned about 0.25% of HNI worth $4,808,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in HNI. BlackRock Inc. boosted its holdings in shares of HNI by 6.2% in the 2nd quarter. BlackRock Inc. now owns 4,774,388 shares of the business services provider’s stock valued at $177,607,000 after acquiring an additional 280,032 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of HNI in the 2nd quarter valued at $6,758,000. Wells Fargo & Company MN boosted its holdings in shares of HNI by 27.6% in the 2nd quarter. Wells Fargo & Company MN now owns 610,413 shares of the business services provider’s stock valued at $22,707,000 after acquiring an additional 131,929 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of HNI by 62.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 337,455 shares of the business services provider’s stock valued at $12,553,000 after acquiring an additional 130,259 shares during the last quarter. Finally, Merriman Wealth Management LLC purchased a new stake in shares of HNI in the 2nd quarter valued at $3,720,000. 71.43% of the stock is currently owned by institutional investors and hedge funds.
HNI stock opened at $35.48 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 18.72 and a beta of 1.45. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. HNI Corp has a 12 month low of $32.55 and a 12 month high of $45.40.
HNI (NYSE:HNI) last released its quarterly earnings data on Monday, October 22nd. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. HNI had a net margin of 4.23% and a return on equity of 16.11%. The business had revenue of $611.10 million for the quarter, compared to the consensus estimate of $618.27 million. During the same period in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that HNI Corp will post 2.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, November 16th. HNI’s dividend payout ratio is currently 59.90%.
In related news, Director Stanley A. Askren sold 54,591 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $37.90, for a total value of $2,068,998.90. Following the completion of the transaction, the director now directly owns 287,287 shares in the company, valued at approximately $10,888,177.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $42.56, for a total transaction of $1,073,022.72. Following the completion of the transaction, the director now owns 257,908 shares of the company’s stock, valued at $10,976,564.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,463 shares of company stock valued at $4,032,111. Company insiders own 5.16% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “sell” rating in a report on Friday, October 26th.
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HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.
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