Icon Wealth Advisors LLC Buys Shares of 1,553 HNI Co. (NYSE:HNI)

Icon Wealth Advisors LLC purchased a new stake in HNI Co. (NYSE:HNI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,553 shares of the business services provider’s stock, valued at approximately $84,000.

Several other hedge funds also recently modified their holdings of the business. Eastern Bank acquired a new position in shares of HNI in the third quarter valued at $27,000. Quest Partners LLC acquired a new position in HNI in the second quarter valued at about $29,000. GAMMA Investing LLC grew its stake in HNI by 51.6% in the third 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 period. Covestor Ltd increased its holdings in HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after purchasing an additional 508 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after buying an additional 2,136 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at HNI

In related news, Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total transaction of $280,635.04. Following the sale, the director now directly owns 31,159 shares in the company, valued at approximately $1,650,180.64. This represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.36% of the company’s stock.

HNI Stock Performance

NYSE:HNI opened at $56.17 on Monday. The stock has a market cap of $2.68 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The stock’s 50-day moving average is $53.25 and its 200-day moving average is $49.95. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI Co. has a 1-year low of $38.55 and a 1-year high of $57.59.

HNI (NYSE:HNI) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. HNI’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 earnings per share. Equities research analysts anticipate that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, November 18th. HNI’s dividend payout ratio (DPR) is presently 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.