Prudential Financial Inc. Has $3.20 Million Stock Holdings in HNI Co. (NYSE:HNI)

Prudential Financial Inc. reduced its holdings in HNI Co. (NYSE:HNI - Free Report) by 49.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,440 shares of the business services provider's stock after selling 62,100 shares during the period. Prudential Financial Inc. owned approximately 0.13% of HNI worth $3,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in shares of HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider's stock valued at $98,861,000 after purchasing an additional 1,346,999 shares during the period. BNP Paribas Financial Markets increased its holdings in HNI by 29.8% in the third quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider's stock valued at $1,152,000 after purchasing an additional 4,911 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HNI by 165.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,296 shares of the business services provider's stock valued at $1,416,000 after buying an additional 16,380 shares during the period. Edgestream Partners L.P. boosted its holdings in HNI by 13.3% during the third quarter. Edgestream Partners L.P. now owns 10,786 shares of the business services provider's stock worth $581,000 after buying an additional 1,269 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of HNI during the 3rd quarter worth about $357,000. 75.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

HNI Trading Down 2.5 %

Shares of HNI stock traded down $1.06 on Monday, hitting $41.16. The stock had a trading volume of 537,779 shares, compared to its average volume of 294,548. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI Co. has a twelve month low of $40.53 and a twelve month high of $58.42. The company has a fifty day moving average price of $46.27 and a two-hundred day moving average price of $50.44. The firm has a market cap of $1.94 billion, a P/E ratio of 14.24, a PEG ratio of 1.14 and a beta of 0.78.

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

HNI Announces Dividend

The firm also recently announced 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 was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 3.21%. HNI's payout ratio is 45.67%.

Insiders Place Their Bets

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

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.