The Manufacturers Life Insurance Company Makes New Investment in HNI Corporation $HNI

The Manufacturers Life Insurance Company acquired a new stake in HNI Corporation (NYSE:HNI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,637 shares of the business services provider’s stock, valued at approximately $1,400,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of HNI in the second quarter worth about $431,744,000. Bank of New York Mellon Corp acquired a new stake in HNI during the 2nd quarter valued at approximately $37,988,000. Cooke & Bieler LP increased its holdings in HNI by 23.0% during the 4th quarter. Cooke & Bieler LP now owns 754,493 shares of the business services provider’s stock worth $31,719,000 after purchasing an additional 140,971 shares during the last quarter. Front Street Capital Management Inc. purchased a new stake in HNI during the 2nd quarter worth approximately $23,462,000. Finally, Millennium Management LLC acquired a new position in shares of HNI in the 1st quarter valued at approximately $10,666,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company set a $65.00 target price on HNI in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of HNI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, July 24th. Finally, Benchmark reissued a “buy” rating on shares of HNI in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Insider Buying and Selling at HNI

In related news, CEO Jeffrey Lorenger sold 1,504 shares of the 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 sale, the chief executive officer owned 148,490 shares in the company, valued at $7,424,500. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 95,138 shares of company stock worth $4,648,587. 2.15% of the stock is owned by corporate insiders.

HNI Price Performance

Shares of NYSE HNI opened at $49.53 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 550.39, a price-to-earnings-growth ratio of 0.57 and a beta of 0.92. HNI Corporation has a twelve month low of $28.93 and a twelve month high of $52.79. The business has a 50 day simple moving average of $45.02 and a 200-day simple moving average of $39.41.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.23. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.48 billion. HNI had a return on equity of 13.66% and a net margin of 0.10%.The firm’s revenue for the quarter was up 120.7% on a year-over-year basis. During the same period last year, the business posted $1.11 earnings per share. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. As a group, equities research analysts expect that HNI Corporation will post 4.24 earnings per share for the current year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 28th. HNI’s dividend payout ratio is currently 1,555.56%.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.