Barclays PLC cut its holdings in HNI Corp (NYSE:HNI) by 93.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,150 shares of the business services provider’s stock after selling 30,622 shares during the quarter. Barclays PLC’s holdings in HNI were worth $76,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in HNI. Vanguard Group Inc. boosted its stake in HNI by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock worth $180,483,000 after purchasing an additional 66,967 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in HNI by 3.9% during the 3rd quarter. IndexIQ Advisors LLC now owns 62,988 shares of the business services provider’s stock valued at $2,787,000 after acquiring an additional 2,378 shares during the period. New York State Common Retirement Fund lifted its stake in HNI by 52.6% during the 4th quarter. New York State Common Retirement Fund now owns 148,200 shares of the business services provider’s stock valued at $5,251,000 after acquiring an additional 51,100 shares during the period. Bank of Montreal Can lifted its stake in HNI by 19.1% during the 4th quarter. Bank of Montreal Can now owns 5,052 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 811 shares during the period. Finally, Vanguard Group Inc lifted its stake in HNI by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 4,079,643 shares of the business services provider’s stock valued at $180,483,000 after acquiring an additional 66,967 shares during the period. 72.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $42.09, for a total value of $210,450.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.
HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, April 22nd. The business services provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. HNI had a net margin of 4.12% and a return on equity of 18.89%. The firm had revenue of $479.50 million for the quarter, compared to analysts’ expectations of $485.33 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Research analysts forecast that HNI Corp will post 2.68 EPS for the current fiscal year.
Several equities analysts have issued reports on the stock. TheStreet upgraded shares of HNI from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Seaport Global Securities restated a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Sidoti cut shares of HNI from a “buy” rating to a “neutral” rating and lowered their target price for the company from $47.00 to $43.00 in a research note on Tuesday, February 26th. Finally, Zacks Investment Research cut shares of HNI from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. HNI currently has an average rating of “Hold” and an average target price of $43.00.
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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, Singapore, and Taiwan. Its Office Furniture segment offers a range of 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, Lamex, and HNI India brands.
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