Ibex Investors LLC Takes $205,000 Position in HNI Corp (HNI)
Ibex Investors LLC bought a new position in shares of HNI Corp (NYSE:HNI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,643 shares of the business services provider’s stock, valued at approximately $205,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in HNI during the 2nd quarter worth $157,000. Honkamp Krueger Financial Services Inc. acquired a new stake in HNI during the 3rd quarter worth $192,000. Tower Research Capital LLC TRC grew its holdings in HNI by 198.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,417 shares of the business services provider’s stock worth $195,000 after acquiring an additional 2,935 shares during the period. Engineers Gate Manager LP acquired a new stake in HNI during the 3rd quarter worth $208,000. Finally, First Midwest Bank Trust Division acquired a new stake in HNI during the 3rd quarter worth $221,000. 71.43% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Stanley A. Askren sold 54,591 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $37.90, for a total value of $2,068,998.90. Following the completion of the transaction, the director now owns 287,287 shares of the company’s stock, valued at approximately $10,888,177.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $42.56, for a total transaction of $1,073,022.72. Following the completion of the transaction, the director now directly owns 257,908 shares of the company’s stock, valued at approximately $10,976,564.48. The disclosure for this sale can be found here. Insiders sold a total of 103,463 shares of company stock valued at $4,032,111 in the last three months. 5.16% of the stock is owned by company insiders.
Shares of HNI stock opened at $35.48 on Friday. HNI Corp has a 12-month low of $32.55 and a 12-month high of $45.40. The firm has a market capitalization of $1.57 billion, a PE ratio of 18.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.18 and a quick ratio of 0.78.
HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. HNI had a net margin of 4.23% and a return on equity of 16.11%. The company had revenue of $611.10 million during the quarter, compared to analyst estimates of $618.27 million. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect that HNI Corp will post 2.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, November 16th. HNI’s dividend payout ratio (DPR) is 59.90%.
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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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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