Zebra Capital Management LLC Decreases Holdings in HNI Corp (HNI)
Zebra Capital Management LLC lessened its stake in shares of HNI Corp (NYSE:HNI) by 17.2% during the second quarter, Holdings Channel reports. The institutional investor owned 23,240 shares of the business services provider’s stock after selling 4,814 shares during the period. Zebra Capital Management LLC’s holdings in HNI were worth $865,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new stake in shares of HNI during the second quarter worth $634,000. Citadel Advisors LLC grew its stake in shares of HNI by 38.9% during the second quarter. Citadel Advisors LLC now owns 145,296 shares of the business services provider’s stock worth $5,405,000 after buying an additional 40,720 shares during the last quarter. Merriman Wealth Management LLC bought a new stake in shares of HNI during the second quarter worth $3,720,000. Dimensional Fund Advisors LP grew its stake in shares of HNI by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,289,818 shares of the business services provider’s stock worth $47,981,000 after buying an additional 36,713 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of HNI by 6.2% during the second quarter. BlackRock Inc. now owns 4,774,388 shares of the business services provider’s stock worth $177,607,000 after buying an additional 280,032 shares during the last quarter. 71.89% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on HNI shares. TheStreet raised shares of HNI from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. ValuEngine raised shares of HNI from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Zacks Investment Research cut shares of HNI from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold”.
HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, July 23rd. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.10. HNI had a net margin of 4.13% and a return on equity of 15.89%. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $525.00 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. HNI’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts predict that HNI Corp will post 2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were paid a $0.295 dividend. The ex-dividend date was Thursday, August 16th. This represents a $1.18 annualized dividend and a dividend yield of 2.74%. HNI’s dividend payout ratio is 59.90%.
In related news, 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 value of $660,450.00. Following the transaction, the director now owns 247,124 shares in the company, valued at $10,880,869.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Miguel M. Calado sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $42.56, for a total transaction of $42,560.00. The disclosure for this sale can be found here. In the last three months, insiders sold 65,068 shares of company stock worth $2,664,859. 5.16% of the stock is currently owned by insiders.
HNI Company Profile
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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