ProShare Advisors LLC Buys 37,061 Shares of HNI Corporation $HNI

ProShare Advisors LLC grew its stake in HNI Corporation (NYSE:HNI) by 17.5% during the 3rd quarter, Holdings Channel reports. The firm owned 248,625 shares of the business services provider’s stock after purchasing an additional 37,061 shares during the quarter. ProShare Advisors LLC’s holdings in HNI were worth $11,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Reyes Financial Architecture Inc. purchased a new position in HNI in the 3rd quarter valued at about $33,000. Fortitude Family Office LLC purchased a new stake in HNI during the 3rd quarter worth approximately $39,000. Nykredit A S purchased a new stake in HNI during the 2nd quarter worth approximately $36,000. Amundi increased its stake in HNI by 9.3% during the 2nd quarter. Amundi now owns 13,552 shares of the business services provider’s stock worth $548,000 after buying an additional 1,152 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of HNI during the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI News Summary

Here are the key news stories impacting HNI this week:

• Positive Sentiment: HNI forecast at least $130 million in Steelcase-related synergies and projected double-digit EPS growth in 2027, pointing to potential gains from integration and cost savings. Article: HNI outlines Steelcase synergies and 2027 EPS growth
• Positive Sentiment: Third-quarter non-GAAP diluted EPS was $1.62, beating consensus estimates of about $1.39–$1.41 and rising 47.3% year over year. GAAP diluted EPS increased 39.8% to $1.23. Article: HNI Corporation reports third-quarter results
• Negative Sentiment: Quarterly revenue of about $1.593 billion missed analyst estimates of roughly $1.60–$1.62 billion. While revenue rose 132.9% year over year, the miss may have weighed on the shares. Article: HNI reports sales below analyst estimates

Insider Activity

In related news, CEO Jeffrey Lorenger sold 1,504 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $50.00, for a total transaction of $75,200.00. Following the completion of the sale, the chief executive officer directly owned 148,490 shares in the company, valued at approximately $7,424,500. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,288 shares of company stock valued at $2,468,419 over the last ninety days. Corporate insiders own 2.15% of the company’s stock.

HNI Stock Down 3.1%

Shares of NYSE:HNI opened at $48.13 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $47.36 and a two-hundred day moving average of $42.01. The stock has a market cap of $3.47 billion, a P/E ratio of 534.86, a PEG ratio of 0.79 and a beta of 0.94. HNI Corporation has a 52-week low of $28.93 and a 52-week high of $52.79.

HNI (NYSE:HNI) last issued its earnings results on Tuesday, November 3rd. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.23. HNI had a return on equity of 13.66% and a net margin of 0.10%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 132.9% on a year-over-year basis. On average, research analysts expect that HNI Corporation will post 4.19 earnings per share for the current year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. HNI’s dividend payout ratio is currently 1,555.56%.

Wall Street Analysts Forecast Growth

HNI has been the topic of several research reports. Wall Street Zen upgraded HNI from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HNI in a research note on Thursday, October 22nd. Wells Fargo & Company set a $65.00 price target on HNI in a research report on Wednesday, July 15th. Finally, Benchmark reiterated a “buy” rating on shares of HNI in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

About HNI

HNI Corporation (NYSE:HNI), headquartered in Muscatine, Iowa, is a workplace and residential building products company. Its businesses serve organizations, businesses, education and government customers, as well as residential consumers through office furnishings and hearth products.

HNI’s workplace furnishings portfolio includes desks, tables, seating, storage, collaborative products and related workplace solutions. Its brands include HON, Allsteel, HBF and Gunlocke, among others. The company sells products through dealers, retailers, e-commerce channels and other distribution partners, primarily serving customers in North America.

Through its hearth products business, HNI manufactures fireplaces, inserts, stoves and related products fueled by gas, wood and pellets.