Icon Wealth Advisors LLC Makes New Investment in HNI Co. (NYSE:HNI)

Icon Wealth Advisors LLC bought a new stake in shares of HNI Co. (NYSE:HNI) in the 3rd quarter, Holdings Channel reports. The firm bought 1,553 shares of the business services provider’s stock, valued at approximately $84,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after purchasing an additional 287,735 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of HNI during the 2nd quarter valued at about $2,189,000. Panagora Asset Management Inc. purchased a new position in shares of HNI in the 2nd quarter worth approximately $2,148,000. Intech Investment Management LLC bought a new stake in shares of HNI in the 3rd quarter worth about $2,245,000. Finally, Clifford Capital Partners LLC grew its stake in shares of HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock valued at $13,125,000 after buying an additional 37,155 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI Trading Up 1.1 %

Shares of HNI stock opened at $56.17 on Monday. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.58 and a beta of 0.85. The stock has a 50 day simple moving average of $53.25 and a 200-day simple moving average of $49.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. HNI Co. has a 1-year low of $38.55 and a 1-year high of $57.59.

HNI (NYSE:HNI) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. HNI’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, equities research analysts expect that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. HNI’s dividend payout ratio is presently 51.16%.

Insider Activity

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

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.