HNI Co. (NYSE:HNI) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of HNI Co. (NYSE:HNI - Free Report) by 20.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 628,272 shares of the business services provider's stock after purchasing an additional 105,034 shares during the quarter. Bank of New York Mellon Corp owned 1.31% of HNI worth $31,646,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Covestor Ltd grew its position in HNI by 219.9% in the third quarter. Covestor Ltd now owns 739 shares of the business services provider's stock worth $40,000 after acquiring an additional 508 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of HNI in the 3rd quarter worth $84,000. Farther Finance Advisors LLC boosted its stake in shares of HNI by 4,746.7% during 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 in the last quarter. Longboard Asset Management LP bought a new position in shares of HNI in the 4th quarter worth $213,000. Finally, Contravisory Investment Management Inc. boosted its position in HNI by 5.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider's stock valued at $227,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Insider Activity at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the sale, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.36% of the company's stock.

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Wall Street Analyst Weigh In

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

HNI Price Performance

Shares of NYSE:HNI traded down $0.09 during trading on Wednesday, reaching $44.10. The stock had a trading volume of 222,021 shares, compared to its average volume of 335,781. The business has a fifty day moving average price of $48.43 and a 200-day moving average price of $51.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. The stock has a market cap of $2.07 billion, a PE ratio of 15.24, a PEG ratio of 1.14 and a beta of 0.90. HNI Co. has a 1-year low of $40.94 and a 1-year high of $58.42.

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

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.33 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 2.99%. HNI's dividend payout ratio 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.