Wed Sep 25 09:11:54 UTC 2024: ## HNI Co. Sees Institutional Investor Activity and Insider Sales

**New York, NY (MarketBeat News)** – HNI Co. (NYSE: HNI) has seen significant activity from institutional investors in recent quarters. ProShare Advisors LLC reduced its stake in the company by 15.7% in the second quarter, while other firms like Norges Bank and Vanguard Group Inc. increased their holdings. Overall, hedge funds and institutional investors own 75.26% of HNI stock.

In other news, HNI’s CFO, Marshall H. Bridges, sold 4,138 shares of the company’s stock on July 25th, while CEO Jeffrey D. Lorenger sold 9,447 shares on August 26th. These sales come as insiders have sold a total of 134,029 shares in the last quarter, representing 3.36% of the company’s stock.

Analysts are generally positive about HNI’s prospects. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating on August 15th, while Benchmark increased their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating on July 26th.

HNI Corporation is a leading manufacturer and seller of workplace furnishings and residential building products, operating through two segments: Workplace Furnishings and Residential Building Products. The company offers a wide range of products under several brands, including HON, Allsteel, and Kimball.

HNI stock opened at $52.66 on Wednesday, with a market capitalization of $2.49 billion. The company also announced a quarterly dividend of $0.33 per share, representing a yield of 2.51%.

Read More