Weiss Asset Management LP Has $2.57 Million Stock Position in HNI Co. (NYSE:HNI)

Weiss Asset Management LP decreased its position in HNI Co. (NYSE:HNI - Free Report) by 80.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,741 shares of the business services provider's stock after selling 191,801 shares during the quarter. Weiss Asset Management LP owned 0.10% of HNI worth $2,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC grew its holdings in shares of HNI by 3.2% in the 3rd quarter. CWM LLC now owns 7,332 shares of the business services provider's stock valued at $395,000 after acquiring an additional 225 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after acquiring an additional 228 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of HNI by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider's stock valued at $753,000 after acquiring an additional 287 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider's stock valued at $1,222,000 after acquiring an additional 338 shares in the last quarter. Finally, Versor Investments LP grew its holdings in HNI by 5.2% during the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider's stock worth $365,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

HNI Stock Performance

HNI stock traded up $0.32 during midday trading on Friday, reaching $56.06. 226,762 shares of the company's stock were exchanged, compared to its average volume of 286,098. HNI Co. has a 52 week low of $39.44 and a 52 week high of $58.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 1.61 and a beta of 0.88. The stock's 50-day simple moving average is $54.06 and its 200 day simple moving average is $50.69.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company had revenue of $672.20 million during the quarter, compared to analysts' expectations of $712.75 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business's revenue was down 5.5% on a year-over-year basis. On average, analysts expect that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company 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 2.35%. The ex-dividend date was Monday, November 18th. HNI's dividend payout ratio is presently 51.16%.

Insider Transactions at HNI

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

Wall Street Analyst Weigh In

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

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.