ProShare Advisors LLC Purchases 37,061 Shares of HNI Corporation $HNI

ProShare Advisors LLC increased its holdings in HNI Corporation (NYSE:HNI) by 17.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,625 shares of the business services provider’s stock after buying an additional 37,061 shares during the quarter. ProShare Advisors LLC owned about 0.34% of HNI worth $11,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HNI. Vise Technologies Inc. acquired a new stake in shares of HNI in the third quarter worth $529,000. Fifth Third Wealth Advisors LLC acquired a new position in HNI during the third quarter valued at $434,000. BIP Wealth LLC acquired a new position in HNI during the third quarter valued at $543,000. Reyes Financial Architecture Inc. purchased a new stake in HNI in the third quarter valued at $33,000. Finally, Axxcess Wealth Management LLC purchased a new stake in HNI in the third quarter valued at $244,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI News Roundup

Here are the key news stories impacting HNI this week:

• Positive Sentiment: HNI forecast at least $130 million in Steelcase-related synergies and projected double-digit EPS growth in 2027, pointing to potential gains from integration and cost savings. Article: HNI outlines Steelcase synergies and 2027 EPS growth
• Positive Sentiment: Third-quarter non-GAAP diluted EPS was $1.62, beating consensus estimates of about $1.39–$1.41 and rising 47.3% year over year. GAAP diluted EPS increased 39.8% to $1.23. Article: HNI Corporation reports third-quarter results
• Negative Sentiment: Quarterly revenue of about $1.593 billion missed analyst estimates of roughly $1.60–$1.62 billion. While revenue rose 132.9% year over year, the miss may have weighed on the shares. Article: HNI reports sales below analyst estimates

Insider Transactions at HNI

In other news, CEO Jeffrey Lorenger sold 39,576 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.09, for a total value of $1,982,361.84. Following the completion of the sale, the chief executive officer directly owned 148,490 shares in the company, valued at $7,437,864.10. The trade was a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 49,288 shares of company stock worth $2,468,419 in the last quarter. Corporate insiders own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HNI shares. Wall Street Zen raised HNI from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Benchmark restated a “buy” rating on shares of HNI in a research note on Wednesday, July 15th. Weiss Ratings restated a “hold (c-)” rating on shares of HNI in a research note on Thursday, October 22nd. Finally, Wells Fargo & Company set a $65.00 target price on HNI in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, HNI currently has an average rating of “Moderate Buy” and an average price target of $65.00.

HNI Stock Down 3.1%

HNI stock opened at $48.13 on Wednesday. The firm has a market cap of $3.47 billion, a PE ratio of 534.86, a P/E/G ratio of 0.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 1.36. The firm’s fifty day moving average is $47.36 and its 200 day moving average is $42.01. HNI Corporation has a one year low of $28.93 and a one year high of $52.79.

HNI (NYSE:HNI) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.23. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. HNI had a net margin of 0.10% and a return on equity of 13.66%. The company’s revenue was up 132.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, research analysts forecast that HNI Corporation will post 4.19 EPS for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 28th. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. HNI’s dividend payout ratio is currently 1,555.56%.

About HNI

HNI Corporation (NYSE:HNI), headquartered in Muscatine, Iowa, is a workplace and residential building products company. Its businesses serve organizations, businesses, education and government customers, as well as residential consumers through office furnishings and hearth products.

HNI’s workplace furnishings portfolio includes desks, tables, seating, storage, collaborative products and related workplace solutions. Its brands include HON, Allsteel, HBF and Gunlocke, among others. The company sells products through dealers, retailers, e-commerce channels and other distribution partners, primarily serving customers in North America.

Through its hearth products business, HNI manufactures fireplaces, inserts, stoves and related products fueled by gas, wood and pellets.