Algert Global LLC Decreases Stock Holdings in HNI Co. (NYSE:HNI)

Algert Global LLC lowered its position in HNI Co. (NYSE:HNI - Free Report) by 59.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,044 shares of the business services provider's stock after selling 31,294 shares during the period. Algert Global LLC's holdings in HNI were worth $1,133,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Eastern Bank acquired a new stake in HNI in the 3rd quarter valued at about $27,000. Quest Partners LLC acquired a new stake in HNI in the 2nd quarter valued at about $29,000. GAMMA Investing LLC raised its holdings in HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after acquiring an additional 228 shares during the last quarter. Covestor Ltd raised its holdings in HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider's stock valued at $40,000 after acquiring an additional 508 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in HNI during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company's stock, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.36% of the stock is owned by company insiders.

HNI Stock Up 0.7 %

Shares of HNI traded up $0.38 during midday trading on Friday, reaching $56.65. The stock had a trading volume of 166,405 shares, compared to its average volume of 256,431. HNI Co. has a 1-year low of $38.63 and a 1-year high of $58.42. The company's fifty day simple moving average is $53.57 and its two-hundred day simple moving average is $50.23. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68.

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 analysts' consensus estimates of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. During the same period last year, the business earned $0.93 EPS. The company's revenue was down 5.5% on a year-over-year basis. Equities research analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a yield of 2.33%. HNI's dividend payout ratio is currently 51.16%.

Analyst Upgrades and Downgrades

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

About HNI

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.