Laurion Capital Management LP purchased a new stake in HNI Corp (NYSE:HNI) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,844 shares of the business services provider’s stock, valued at approximately $321,000.
A number of other hedge funds have also modified their holdings of the business. Arizona State Retirement System lifted its position in shares of HNI by 1.3% during the 4th quarter. Arizona State Retirement System now owns 31,451 shares of the business services provider’s stock worth $1,114,000 after purchasing an additional 396 shares during the last quarter. Macquarie Group Ltd. increased its stake in HNI by 250.0% in the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Strs Ohio increased its stake in HNI by 1.9% in the first quarter. Strs Ohio now owns 26,200 shares of the business services provider’s stock valued at $950,000 after purchasing an additional 500 shares during the period. Thrivent Financial for Lutherans increased its stake in HNI by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,104 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 609 shares during the period. Finally, Rhumbline Advisers increased its stake in HNI by 0.6% in the first quarter. Rhumbline Advisers now owns 127,024 shares of the business services provider’s stock valued at $4,610,000 after purchasing an additional 695 shares during the period. 70.52% of the stock is owned by institutional investors.
Shares of HNI stock opened at $34.47 on Monday. HNI Corp has a 52-week low of $32.99 and a 52-week high of $45.40. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.49 billion, a PE ratio of 14.30 and a beta of 1.28.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from HNI’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, May 16th. HNI’s payout ratio is 50.62%.
A number of research analysts have commented on the stock. Sidoti lowered shares of HNI from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $47.00 to $43.00 in a research note on Tuesday, February 26th. Zacks Investment Research upgraded shares of HNI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. TheStreet upgraded shares of HNI from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Finally, Seaport Global Securities restated a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. HNI presently has a consensus rating of “Hold” and a consensus target price of $43.00.
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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, 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.
Further Reading: Market Capitalization and Individual Investors
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