In a surprising turn of events, research analysts at StockNews.com have chosen to downgrade their rating on HNI Corporation (NYSE:HNI) from a “buy” to a “hold.” The news, which was issued to investors on Sunday, has left many wondering about the implications for the future of this well-known furniture manufacturer.
Nordea Investment Management AB, a well-known institutional investor, has recently made a significant reduction in its holdings of HNI Co. (NYSE:HNI). According to the latest disclosure filed with the Securities & Exchange Commission, Nordea Investment Management AB now owns 24,818 shares of HNI’s stock, which is a decrease of 59.5% from the previous quarter. This represents an approximate value of $686,000.
MUSCATINE, Iowa – HNI has announced the completion of its acquisition of fellow office and contract furniture giant Kimball. HNI acquired Kimball early March for $455 million.
“The completion of the Kimball International acquisition represents a new chapter as we bring together two strong, successful companies with similar cultures and well-established families of brands,” said Jeff Lorenger, HNI CEO. “The combined companies will have an unmatched comprehensive product offering positioned to benefit from post-pandemic trends. I’m privileged to lead this talented team and look forward to the significant benefits we will deliver to our shareholders, members, dealers and customers.”
Victory Capital Management Inc., an investment management firm, recently announced that it has lowered its stake in HNI Corp. This business services provider is primarily involved in offering workplace furnishings and residential building products to its clients. The firm has two major operating segments – the Workplace Furnishing segment and the Residential Building Products segment.
Victory Capital Management Inc. lessened its stake in HNI Co. (NYSE:HNI) by 31.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,575 shares of the business services provider’s stock after selling 134,400 shares during the quarter. Victory Capital Management Inc. owned 0.72% of HNI worth $9,517,000 at the end of the most recent reporting period.
Texas Permanent School Fund decreased its holdings in shares of HNI Co. (NYSE:HNI) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,809 shares of the business services provider’s stock after selling 1,919 shares during the period. Texas Permanent School Fund owned about 0.07% of HNI worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
State Board of Administration of Florida Retirement System reduced its stake in shares of HNI Co. (NYSE:HNI) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,327 shares of the business services provider’s stock after selling 612 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.07% of HNI worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
HNI said on May 15, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.32 per share.
Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 23, 2023.
Nordea Investment Management AB trimmed its holdings in HNI Co. (NYSE:HNI) by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,294 shares of the business services provider’s stock after selling 17,389 shares during the period. Nordea Investment Management AB owned 0.15% of HNI worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission.
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