HNI Co. (NYSE:HNI) Shares Purchased by Fmr LLC

FMR LLC raised its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 275.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,836,205 shares of the business services provider's stock after purchasing an additional 1,346,999 shares during the period. FMR LLC owned approximately 3.84% of HNI worth $98,861,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of HNI during the 3rd quarter valued at $27,000. Quest Partners LLC bought a new position in HNI in the 2nd quarter worth $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 worth $36,000 after purchasing an additional 228 shares during the period. 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 worth $40,000 after purchasing an additional 508 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in HNI in the 3rd quarter worth $84,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Brian Scott Smith sold 2,284 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now directly owns 37,880 shares of the company's stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company's stock.

HNI Trading Down 1.7 %

Shares of HNI stock traded down $0.94 on Thursday, hitting $55.74. 293,718 shares of the company traded hands, compared to its average volume of 256,365. The company has a market cap of $2.66 billion, a PE ratio of 21.60, a PEG ratio of 1.62 and a beta of 0.88. HNI Co. has a 52 week low of $39.44 and a 52 week high of $58.42. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average price is $53.99 and its 200-day moving average price is $50.58.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company earned $0.93 earnings per share. The business's revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts predict that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, November 18th. HNI's dividend payout ratio (DPR) is presently 51.16%.

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.