HNI Co. (NYSE:HNI) Shares Acquired by Bank of New York Mellon Corp (2024)

Bank of New York Mellon Corp grew its holdings in HNI Co. (NYSE:HNI – Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 565,012 shares of the business services provider’s stock after buying an additional 17,151 shares during the quarter. Bank of New York Mellon Corp owned about 1.19% of HNI worth $25,437,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of HNI. USA Financial Formulas acquired a new stake in shares of HNI in the 4th quarter valued at approximately $25,000. FinTrust Capital Advisors LLC acquired a new position in HNI during the fourth quarter worth $42,000. Northwest Financial Advisors acquired a new position in HNI during the fourth quarter worth $134,000. Daiwa Securities Group Inc. acquired a new position in HNI during the first quarter worth $202,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in HNI during the fourth quarter worth $238,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Friday, July 12th. The stock was sold at an average price of $48.01, for a total value of $96,020.00. Following the completion of the sale, the director now owns 39,725 shares of the company’s stock, valued at $1,907,197.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Friday, July 12th. The stock was sold at an average price of $48.01, for a total value of $96,020.00. Following the completion of the sale, the director now owns 39,725 shares of the company’s stock, valued at $1,907,197.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the completion of the sale, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. The disclosure for this sale can be found here. Insiders sold a total of 134,029 shares of company stock valued at $6,766,593 over the last quarter. Company insiders own 3.36% of the company’s stock.

HNI Stock Performance

HNI stock opened at $52.09 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. The stock has a fifty day moving average of $50.04 and a two-hundred day moving average of $46.11. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 1.42 and a beta of 0.86. HNI Co. has a fifty-two week low of $31.02 and a fifty-two week high of $56.13.

HNI (NYSE:HNI – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.18. The company had revenue of $623.70 million during the quarter, compared to the consensus estimate of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. HNI’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts anticipate that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, August 23rd. HNI’s payout ratio is 97.78%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Benchmark lifted their price objective on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Check Out Our Latest Stock Analysis on HNI

HNI Company Profile

(Free Report)

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.