New York Life Investment Management LLC Sells 316 Shares of HNI Co. (NYSE:HNI)

New York Life Investment Management LLC lessened its stake in HNI Co. (NYSE:HNI) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,453 shares of the business services provider’s stock after selling 316 shares during the quarter. New York Life Investment Management LLC’s holdings in HNI were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of HNI during the 3rd quarter valued at about $56,000. Hsbc Holdings PLC bought a new position in HNI during the third quarter valued at approximately $207,000. Cornerstone Investment Partners LLC purchased a new position in HNI during the 4th quarter valued at approximately $216,000. OLD National Bancorp IN bought a new stake in HNI in the 3rd quarter worth approximately $223,000. Finally, Carlson Capital Management purchased a new stake in shares of HNI during the 4th quarter worth approximately $228,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Vincent P. Berger sold 9,976 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the completion of the transaction, the executive vice president now owns 67,025 shares of the company’s stock, valued at $2,882,745.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Vincent P. Berger sold 9,976 shares of HNI stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $43.01, for a total value of $429,067.76. Following the transaction, the executive vice president now directly owns 67,025 shares in the company, valued at approximately $2,882,745.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Miguel M. Calado sold 2,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the transaction, the director now directly owns 36,988 shares of the company’s stock, valued at $1,590,114.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,374 shares of company stock worth $749,534. Corporate insiders own 3.36% of the company’s stock.

HNI Stock Performance

NYSE:HNI opened at $45.93 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of 34.02, a PEG ratio of 1.19 and a beta of 0.87. The stock’s fifty day moving average is $43.39 and its 200 day moving average is $41.38. HNI Co. has a fifty-two week low of $25.06 and a fifty-two week high of $46.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 1.29.

HNI (NYSE:HNI) last announced its earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. The business had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. HNI had a net margin of 2.57% and a return on equity of 17.75%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. On average, sell-side analysts anticipate that HNI Co. will post 3.1 earnings per share for the current year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. HNI’s dividend payout ratio is currently 94.81%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HNI. Benchmark boosted their price target on shares of HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. StockNews.com downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

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.