Icon Wealth Advisors LLC Takes Position in HNI Co. (NYSE:HNI)

Icon Wealth Advisors LLC purchased a new position in shares of HNI Co. (NYSE:HNI) in the third quarter, HoldingsChannel.com reports. The firm purchased 3,368 shares of the business services provider’s stock, valued at approximately $181,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC boosted its stake in shares of HNI by 3.2% during the third quarter. CWM LLC now owns 7,332 shares of the business services provider’s stock worth $395,000 after buying an additional 225 shares during the period. GAMMA Investing LLC raised its stake in HNI by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 228 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of HNI by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock valued at $753,000 after purchasing an additional 287 shares during the last quarter. SummerHaven Investment Management LLC grew its position in HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock valued at $1,222,000 after buying an additional 338 shares during the last quarter. Finally, Versor Investments LP increased its stake in shares of HNI by 5.2% during the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock worth $365,000 after acquiring an additional 400 shares during the period. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

HNI Trading Up 0.7 %

Shares of HNI stock opened at $56.65 on Friday. HNI Co. has a 1-year low of $38.63 and a 1-year high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. The business’s fifty day moving average price is $53.65 and its 200 day moving average price is $50.33. The firm has a market capitalization of $2.71 billion, a PE ratio of 21.96, a P/E/G ratio of 1.60 and a beta of 0.85.

HNI (NYSE:HNI) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business had revenue of $672.20 million during the quarter, compared to the consensus estimate of $712.75 million. During the same quarter last year, the firm posted $0.93 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, November 18th. HNI’s dividend payout ratio (DPR) is 51.16%.

HNI Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.