Victory Capital Management Inc. Sells 11,787 Shares of HNI Co. (NYSE:HNI)

Victory Capital Management Inc. lowered its holdings in HNI Co. (NYSE:HNI - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,295 shares of the business services provider's stock after selling 11,787 shares during the period. Victory Capital Management Inc. owned about 0.47% of HNI worth $11,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HNI. Principal Financial Group Inc. raised its stake in shares of HNI by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider's stock worth $12,839,000 after purchasing an additional 4,358 shares in the last quarter. Covestor Ltd lifted its stake in HNI by 219.9% in the third quarter. Covestor Ltd now owns 739 shares of the business services provider's stock valued at $40,000 after acquiring an additional 508 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of HNI by 8.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,865 shares of the business services provider's stock valued at $423,000 after acquiring an additional 616 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of HNI by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider's stock worth $753,000 after purchasing an additional 287 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of HNI in the 3rd quarter valued at about $2,245,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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HNI Stock Performance

HNI traded up $0.07 during trading hours on Monday, reaching $43.64. The company's stock had a trading volume of 396,648 shares, compared to its average volume of 263,676. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. The company's 50-day moving average is $48.07 and its 200-day moving average is $51.37. HNI Co. has a 52 week low of $40.94 and a 52 week high of $58.42. The firm has a market cap of $2.05 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million during the quarter, compared to analysts' expectations of $657.03 million. On average, equities analysts forecast that HNI Co. will post 3.6 EPS for the current 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 dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 3.02%. HNI's dividend payout ratio (DPR) is presently 45.67%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.