HNI Corp (NYSE:HNI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of HNI Corp (NYSE:HNI) by 20.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 667,401 shares of the business services provider’s stock after selling 176,379 shares during the period. Principal Financial Group Inc.’s holdings in HNI were worth $24,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System increased its holdings in HNI by 1.3% during the fourth quarter. Arizona State Retirement System now owns 31,451 shares of the business services provider’s stock worth $1,114,000 after buying an additional 396 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in HNI by 26.8% during the first quarter. NumerixS Investment Technologies Inc now owns 2,082 shares of the business services provider’s stock worth $76,000 after buying an additional 440 shares during the last quarter. Macquarie Group Ltd. increased its holdings in HNI by 250.0% during the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock worth $25,000 after buying an additional 500 shares during the last quarter. Strs Ohio increased its holdings in HNI by 1.9% during the first quarter. Strs Ohio now owns 26,200 shares of the business services provider’s stock worth $950,000 after buying an additional 500 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in HNI by 5.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 11,104 shares of the business services provider’s stock worth $393,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Shares of NYSE:HNI opened at $35.26 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 0.84. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 14.63 and a beta of 1.27. HNI Corp has a twelve month low of $32.79 and a twelve month high of $45.40.

HNI (NYSE:HNI) last issued its earnings results on Monday, April 22nd. The business services provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $479.50 million during the quarter, compared to analyst estimates of $485.33 million. HNI had a net margin of 4.12% and a return on equity of 18.89%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. Analysts predict that HNI Corp will post 2.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, May 16th. This is a positive change from HNI’s previous quarterly dividend of $0.30. HNI’s dividend payout ratio (DPR) is currently 50.62%.

A number of research firms recently issued reports on HNI. Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “sell” rating in a report on Thursday. Sidoti set a $45.00 target price on shares of HNI and gave the stock a “hold” rating in a research report on Friday, May 31st. TheStreet lowered shares of HNI from a “b” rating to a “c+” rating in a research report on Monday, April 22nd. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of HNI in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $45.00.

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HNI Company Profile

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of 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, Lamex, and HNI India brands.

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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