Louisiana State Employees Retirement System Decreases Position in HNI Corp. (HNI)
Louisiana State Employees Retirement System decreased its position in HNI Corp. (NYSE:HNI) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 11,800 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in HNI Corp. were worth $549,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of HNI. Iowa State Bank purchased a new position in HNI Corp. during the second quarter worth approximately $110,000. LS Investment Advisors LLC raised its stake in shares of HNI Corp. by 76.3% in the second quarter. LS Investment Advisors LLC now owns 2,736 shares of the company’s stock worth $127,000 after buying an additional 1,184 shares during the period. Bank of Montreal Can bought a new stake in shares of HNI Corp. during the second quarter worth about $174,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of HNI Corp. during the first quarter worth about $222,000. Finally, AMP Capital Investors Ltd raised its stake in shares of HNI Corp. by 99.2% in the first quarter. AMP Capital Investors Ltd now owns 11,500 shares of the company’s stock worth $443,000 after buying an additional 5,726 shares during the period. 67.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of HNI Corp. (NYSE:HNI) traded down 0.53% during trading on Tuesday, hitting $37.65. The stock had a trading volume of 171,692 shares. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 14.98 and a beta of 1.50. The firm has a 50 day moving average of $45.40 and a 200 day moving average of $46.53. HNI Corp. has a 1-year low of $29.84 and a 1-year high of $56.96.
HNI Corp. (NYSE:HNI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. Analysts expect that HNI Corp. will post $2.55 EPS for the current fiscal year.
A number of analysts recently issued reports on HNI shares. Raymond James Financial Inc. lowered shares of HNI Corp. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th. Zacks Investment Research lowered shares of HNI Corp. from a “buy” rating to a “sell” rating in a research note on Wednesday, September 21st.
In other news, Director Larry B. Porcellato sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the transaction, the director now owns 33,590 shares in the company, valued at $1,770,864.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $52.20, for a total value of $1,904,412.60. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
HNI Corp. Company Profile
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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