Burnham & Co LLC Makes New Investment in HNI Corporation $HNI

Burnham & Co LLC purchased a new position in shares of HNI Corporation (NYSE:HNI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 99,589 shares of the business services provider’s stock, valued at approximately $4,024,000. HNI accounts for approximately 3.2% of Burnham & Co LLC’s investment portfolio, making the stock its 9th biggest position.

Several other institutional investors also recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in HNI in the third quarter valued at about $28,000. Allworth Financial LP acquired a new position in HNI during the 2nd quarter worth approximately $50,000. Royal Bank of Canada increased its position in HNI by 20.5% during the 1st quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider’s stock worth $383,000 after purchasing an additional 1,472 shares during the period. AQR Capital Management LLC raised its stake in shares of HNI by 6.3% during the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider’s stock worth $600,000 after buying an additional 802 shares in the last quarter. Finally, Wealthspan Partners LLC purchased a new position in shares of HNI during the 2nd quarter worth approximately $609,000. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Stock Up 2.7%

Shares of NYSE:HNI opened at $49.09 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3.54 billion, a P/E ratio of 545.51, a P/E/G ratio of 0.56 and a beta of 0.91. HNI Corporation has a 52-week low of $28.93 and a 52-week high of $52.79. The stock’s fifty day simple moving average is $42.26 and its 200-day simple moving average is $39.53.

HNI (NYSE:HNI) last announced its earnings results on Thursday, July 30th. The business services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.23. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. HNI had a net margin of 0.10% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 120.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS. 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 forecast that HNI Corporation will post 4.24 earnings per share for the current fiscal year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 28th. HNI’s dividend payout ratio (DPR) is presently 1,555.56%.

Insider Buying and Selling

In other news, CEO Jeffrey D. Lorenger sold 45,850 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $47.55, for a total transaction of $2,180,167.50. Following the completion of the transaction, the chief executive officer owned 148,490 shares of the company’s stock, valued at $7,060,699.50. This represents a 23.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on HNI. Benchmark reissued a “buy” rating on shares of HNI in a report on Wednesday, July 15th. Weiss Ratings raised shares of HNI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company set a $65.00 target price on shares of HNI in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.