Advisors Asset Management Inc. Has $2.22 Million Stock Holdings in HNI Co. (NYSE:HNI)

Advisors Asset Management Inc. lowered its position in shares of HNI Co. (NYSE:HNI - Free Report) by 64.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,183 shares of the business services provider's stock after selling 74,155 shares during the quarter. Advisors Asset Management Inc. owned 0.09% of HNI worth $2,217,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in HNI. Eastern Bank acquired a new stake in shares of HNI in the third quarter valued at approximately $27,000. Quest Partners LLC acquired a new stake in HNI during the 2nd quarter valued at $29,000. GAMMA Investing LLC lifted its holdings in HNI by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. Covestor Ltd boosted its position in HNI by 219.9% during the third quarter. Covestor Ltd now owns 739 shares of the business services provider's stock worth $40,000 after purchasing an additional 508 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of HNI by 4,746.7% in the third quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock valued at $117,000 after purchasing an additional 2,136 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Insider Activity at HNI

In related news, insider Brian Scott Smith sold 2,284 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Miguel M. Calado sold 5,299 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the completion of the transaction, the director now directly owns 31,159 shares in the company, valued at approximately $1,650,180.64. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by company insiders.

HNI Stock Performance

NYSE:HNI traded up $1.35 during mid-day trading on Monday, reaching $57.52. 421,566 shares of the company's stock were exchanged, compared to its average volume of 257,061. HNI Co. has a one year low of $38.55 and a one year high of $58.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The business's fifty day simple moving average is $53.25 and its two-hundred day simple moving average is $49.98. The firm has a market capitalization of $2.75 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.60 and a beta of 0.85.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $672.20 million during the quarter, compared to analysts' expectations of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company'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 EPS. Analysts anticipate that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, November 18th. HNI's payout ratio is 51.16%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of HNI from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st.

HNI Company 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.