American Century Companies Inc. Grows Position in HNI Co. (NYSE:HNI)

American Century Companies Inc. lifted its stake in HNI Co. (NYSE:HNI - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,584 shares of the business services provider's stock after purchasing an additional 9,106 shares during the period. American Century Companies Inc. owned 0.23% of HNI worth $5,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider's stock valued at $101,033,000 after acquiring an additional 20,717 shares during the period. Pacer Advisors Inc. purchased a new position in shares of HNI during the 4th quarter valued at $69,253,000. Geode Capital Management LLC boosted its stake in shares of HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider's stock worth $58,419,000 after acquiring an additional 7,553 shares during the period. Bank of New York Mellon Corp raised its stake in HNI by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider's stock valued at $31,646,000 after purchasing an additional 105,034 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in HNI by 4.9% in the 4th quarter. Principal Financial Group Inc. now owns 250,181 shares of the business services provider's stock worth $12,602,000 after purchasing an additional 11,716 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company's stock.

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Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HNI from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st.

Insiders Place Their Bets

In related news, insider Brian Scott Smith sold 556 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the transaction, the insider now owns 14,394 shares of the company's stock, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.37% of the company's stock.

HNI Price Performance

Shares of HNI stock traded down $0.48 during trading hours on Tuesday, hitting $40.71. The stock had a trading volume of 120,696 shares, compared to its average volume of 367,262. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.14 and a beta of 0.78. HNI Co. has a one year low of $40.53 and a one year high of $58.42. The stock's 50-day moving average price is $46.27 and its two-hundred day moving average price is $50.44.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. Equities analysts forecast that HNI Co. will post 3.6 EPS for the current year.

HNI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 3.24%. HNI's dividend payout ratio (DPR) is currently 45.67%.

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.