Intech Investment Management LLC cut its position in shares of HNI Co. (NYSE:HNI - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,698 shares of the business services provider's stock after selling 11,997 shares during the period. Intech Investment Management LLC owned approximately 0.06% of HNI worth $1,496,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC raised its holdings 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 acquiring an additional 287 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in HNI during the third quarter valued at $84,000. FMR LLC lifted its position in HNI by 275.3% during the third 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. BNP Paribas Financial Markets grew its stake in shares of HNI by 29.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider's stock worth $1,152,000 after buying an additional 4,911 shares in the last quarter. Finally, Clifford Capital Partners LLC increased its holdings in shares of HNI by 2.0% in the 3rd quarter. Clifford Capital Partners LLC now owns 297,236 shares of the business services provider's stock worth $16,003,000 after buying an additional 5,701 shares during the last quarter. 75.26% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered HNI from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st.
Read Our Latest Research Report on HNI
Insider Transactions at HNI
In related news, insider Brian Scott Smith sold 556 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, the insider now owns 14,394 shares in the company, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.37% of the company's stock.
HNI Trading Up 0.2 %
NYSE:HNI traded up $0.11 during midday trading on Wednesday, hitting $44.22. 270,830 shares of the company traded hands, compared to its average volume of 377,964. The firm has a market capitalization of $2.08 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.14 and a beta of 0.90. The firm's fifty day moving average is $47.52 and its 200-day moving average is $50.93. HNI Co. has a 12-month low of $40.94 and a 12-month high of $58.42. 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 (NYSE:HNI - Get Free Report) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $657.03 million. On average, sell-side analysts predict that HNI Co. will post 3.6 EPS for the current year.
HNI Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 dividend yield of 2.99%. HNI's dividend payout ratio is 45.67%.
About HNI
(
Free Report)
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.
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