7 Under-the-Radar Dividend Stocks Benefiting From AI

4. HNI Corporation (NYSE:HNI)

Number of Hedge Fund holdings: 16

Strs Ohio purchased a new stake in HNI Corporation (NYSE:HNI) through the acquisition of 14,900 shares of the company’s stock during the first quarter. According to a recent filing with the SEC, the public pension fund’s investment in the company is now approximately $661,000.

Many believe that the company’s recent quarter was a great one, with revenue and adjusted EPS surpassing guidance, thanks to the strong international and corporate demand. From India and China to the UK, HNI Corporation (NYSE:HNI) is gaining traction almost everywhere. But what makes the company’s bull case even stronger is its acquisition of Steelcase, which is considered a high-risk, high-reward deal.

This $2.2 billion transaction allows the shareholders of the combined business to benefit from greater operations in contrast to what the firms have on their own. From diversification to potential synergies of $120 million annually, the monetary outcome of this collaboration is expected to materialize over the next two years.

HNI Corporation (NYSE:HNI), headquartered in Muscatine, Iowa, specializes in furnishings and residential building products mainly in the United States and Canada. Incorporated in 1944, the company is committed to fostering an improved workplace for its members.