5,000 Shares in HNI Corp. (HNI) Acquired by First Midwest Bank Trust Division
First Midwest Bank Trust Division bought a new position in shares of HNI Corp. (NYSE:HNI) during the second quarter, Holdings Channel reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $232,000.
Several other hedge funds also recently modified their holdings of HNI. Renaissance Technologies LLC raised its stake in shares of HNI Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 426,000 shares of the company’s stock worth $16,686,000 after buying an additional 191,200 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in HNI Corp. during the second quarter valued at $5,268,000. BNP Paribas Arbitrage SA purchased a new stake in HNI Corp. during the second quarter valued at $981,000. Jacobs Levy Equity Management Inc. purchased a new stake in HNI Corp. during the first quarter valued at $807,000. Finally, Zebra Capital Management LLC increased its stake in HNI Corp. by 205.0% in the first quarter. Zebra Capital Management LLC now owns 28,764 shares of the company’s stock valued at $1,127,000 after buying an additional 19,333 shares during the last quarter. 68.01% of the stock is owned by hedge funds and other institutional investors.
HNI Corp. (NYSE:HNI) traded down 2.98% during mid-day trading on Friday, hitting $38.41. The company had a trading volume of 387,703 shares. HNI Corp. has a 52-week low of $29.84 and a 52-week high of $56.96. The company has a market capitalization of $1.71 billion, a P/E ratio of 15.28 and a beta of 1.50. The company has a 50-day moving average price of $48.73 and a 200 day moving average price of $46.49.
HNI Corp. (NYSE:HNI) last announced its earnings results on Thursday, July 21st. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. On average, analysts forecast that HNI Corp. will post $2.55 EPS for the current fiscal year.
Several analysts recently weighed in on the company. Raymond James Financial Inc. downgraded HNI Corp. from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 20th. Zacks Investment Research downgraded HNI Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, September 21st.
In related news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $44.70, for a total transaction of $223,500.00. Following the completion of the transaction, the director now directly owns 36,230 shares in the company, valued at approximately $1,619,481. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jerald K. Dittmer sold 8,200 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $55.89, for a total value of $458,298.00. Following the transaction, the insider now owns 29,619 shares of the company’s stock, valued at $1,655,405.91. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
About HNI Corp.
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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