Millennium Management LLC Has $767,000 Stake in HNI Corp (HNI)

Millennium Management LLC lifted its position in HNI Corp (NYSE:HNI) by 71.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,607 shares of the business services provider’s stock after buying an additional 8,577 shares during the quarter. Millennium Management LLC’s holdings in HNI were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in HNI during the 2nd quarter valued at $157,000. Creative Planning acquired a new position in HNI during the 2nd quarter valued at $227,000. GSA Capital Partners LLP acquired a new position in HNI during the 2nd quarter valued at $265,000. Aspiriant LLC acquired a new position in HNI during the 2nd quarter valued at $289,000. Finally, Xact Kapitalforvaltning AB raised its stake in HNI by 56.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,416 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.

Several equities analysts recently commented on HNI shares. Zacks Investment Research cut shares of HNI from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. TheStreet upgraded shares of HNI from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded shares of HNI from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th.

Shares of HNI stock opened at $39.55 on Thursday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.53 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.18. HNI Corp has a 52-week low of $32.45 and a 52-week high of $45.40.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The firm had revenue of $611.10 million for the quarter, compared to analyst estimates of $618.27 million. HNI had a net margin of 4.23% and a return on equity of 16.11%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Analysts expect that HNI Corp will post 2.4 EPS for the current fiscal year.

In other HNI news, Director Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $42.70, for a total value of $1,076,552.40. Following the sale, the director now owns 257,336 shares of the company’s stock, valued at approximately $10,988,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley A. Askren sold 15,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $44.03, for a total transaction of $660,450.00. Following the completion of the sale, the director now directly owns 247,124 shares in the company, valued at approximately $10,880,869.72. The disclosure for this sale can be found here. Insiders sold a total of 65,424 shares of company stock worth $2,810,025 in the last three months. Insiders own 5.16% of the company’s stock.

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About HNI

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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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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