176,600 Shares in HNI Co. (NYSE:HNI) Bought by Cerity Partners LLC

Cerity Partners LLC purchased a new position in HNI Co. (NYSE:HNI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,600 shares of the business services provider's stock, valued at approximately $8,897,000. Cerity Partners LLC owned approximately 0.37% of HNI as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in HNI during the 4th quarter worth about $69,253,000. Norges Bank purchased a new position in HNI in the fourth quarter worth approximately $7,076,000. FMR LLC grew its holdings in HNI by 6.8% during the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock worth $98,755,000 after acquiring an additional 124,391 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of HNI by 20.1% in 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 last quarter. Finally, Barclays PLC raised its holdings in shares of HNI by 216.7% in the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider's stock valued at $5,015,000 after purchasing an additional 63,724 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Stock Down 0.9 %

Shares of NYSE HNI traded down $0.37 during midday trading on Wednesday, hitting $41.37. 28,468 shares of the company's stock were exchanged, compared to its average volume of 363,611. The firm's fifty day simple moving average is $45.08 and its 200-day simple moving average is $49.89. The company has a market cap of $1.94 billion, a PE ratio of 14.31, a P/E/G ratio of 1.14 and a beta of 0.78. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68.

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 for the quarter, topping 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. Research analysts predict that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently disclosed 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 3.19%. HNI's dividend payout ratio is presently 45.67%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.