California Public Employees Retirement System decreased its stake in HNI Corporation (NYSE:HNI) by 9.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 111,900 shares of the business services provider’s stock after selling 11,600 shares during the period. California Public Employees Retirement System owned approximately 0.25% of HNI Corporation worth $5,157,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in HNI Corporation during the fourth quarter valued at $391,000. Norges Bank purchased a new stake in HNI Corporation during the fourth quarter valued at $53,804,000. Teachers Advisors LLC boosted its stake in HNI Corporation by 33.4% in the fourth quarter. Teachers Advisors LLC now owns 113,950 shares of the business services provider’s stock valued at $6,372,000 after buying an additional 28,524 shares during the period. Bank of Montreal Can boosted its stake in HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after buying an additional 1,030 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in HNI Corporation by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock valued at $512,000 after buying an additional 100 shares during the period. Institutional investors own 70.69% of the company’s stock.

HNI Corporation (NYSE HNI) traded up 1.33% during midday trading on Friday, reaching $36.48. 121,903 shares of the company’s stock were exchanged. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 26.21 and a beta of 1.41. HNI Corporation has a 12-month low of $35.55 and a 12-month high of $56.96. The firm has a 50-day moving average price of $39.21 and a 200 day moving average price of $44.32.

HNI Corporation (NYSE:HNI) last released its earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $516.10 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. On average, analysts expect that HNI Corporation will post $2.45 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on HNI shares. Zacks Investment Research cut shares of HNI Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. BidaskClub cut shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, TheStreet cut shares of HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.00.

In other news, Chairman Stanley A. Askren sold 11,264 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the sale, the chairman now directly owns 204,996 shares of the company’s stock, valued at approximately $9,431,865.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.16% of the stock is owned by corporate insiders.

HNI Corporation Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Institutional Ownership by Quarter for HNI Corporation (NYSE:HNI)

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