JPMorgan Chase & Co. Has $7.37 Million Position in HNI Co. (NYSE:HNI)

JPMorgan Chase & Co. lifted its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 54.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,923 shares of the business services provider's stock after buying an additional 48,237 shares during the period. JPMorgan Chase & Co. owned about 0.29% of HNI worth $7,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HNI. State Street Corp raised its stake 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 worth $101,033,000 after acquiring an additional 20,717 shares in the last quarter. FMR LLC grew its holdings in shares of HNI by 275.3% during 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 last quarter. Dimensional Fund Advisors LP lifted its stake in HNI by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider's stock valued at $73,180,000 after purchasing an additional 9,901 shares during the last quarter. Geode Capital Management LLC boosted its position in HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider's stock valued at $58,419,000 after buying an additional 7,553 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of HNI by 6.7% during the third quarter. Systematic Financial Management LP now owns 465,837 shares of the business services provider's stock worth $25,081,000 after buying an additional 29,093 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

HNI Trading Up 3.7 %

Shares of HNI stock traded up $1.81 on Wednesday, hitting $50.46. The stock had a trading volume of 416,161 shares, compared to its average volume of 369,894. The stock has a 50 day moving average of $53.20 and a 200 day moving average of $51.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a twelve month low of $39.95 and a twelve month high of $58.42. The firm has a market capitalization of $2.41 billion, a P/E ratio of 19.56, a PEG ratio of 1.53 and a beta of 0.91.

HNI (NYSE:HNI - Get Free Report) last announced its 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 return on equity of 19.29% and a net margin of 4.83%. The business had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. During the same period last year, the company earned $0.93 EPS. HNI's revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts expect that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, November 18th. HNI's dividend payout ratio is presently 51.16%.

Insiders Place Their Bets

In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the transaction, the director now directly owns 37,880 shares of the company's stock, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.36% 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.