Grantham Mayo Van Otterloo & Co. LLC Trims Position in HNI Co. (NYSE:HNI)

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of HNI Co. (NYSE:HNI - Free Report) by 62.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,404 shares of the business services provider's stock after selling 18,922 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in HNI were worth $574,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HNI. Vanguard Group Inc. grew its position in shares of HNI by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after acquiring an additional 62,476 shares during the period. State Street Corp grew its holdings in HNI by 1.1% during the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider's stock valued at $101,033,000 after purchasing an additional 20,717 shares during the period. Pacer Advisors Inc. purchased a new stake in HNI in the fourth quarter worth $69,253,000. Geode Capital Management LLC raised its stake in shares of HNI by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock valued at $54,992,000 after buying an additional 6,668 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 105,034 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

HNI Stock Performance

HNI traded up $0.10 on Monday, hitting $42.19. The company's stock had a trading volume of 35,568 shares, compared to its average volume of 367,043. HNI Co. has a 12 month low of $39.76 and a 12 month high of $58.42. The firm has a market cap of $1.98 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The company's 50 day simple moving average is $45.35 and its 200-day simple moving average is $50.02.

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

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 3.13%. HNI's dividend payout ratio is currently 45.67%.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 14,394 shares in the company, valued at approximately $718,260.60. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.