JPMorgan Chase & Co. Buys 53,502 Shares of HNI Co. (NYSE:HNI)

JPMorgan Chase & Co. raised its stake in HNI Co. (NYSE:HNI - Free Report) by 39.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,425 shares of the business services provider's stock after buying an additional 53,502 shares during the period. JPMorgan Chase & Co. owned 0.40% of HNI worth $9,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in HNI by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock worth $288,016,000 after acquiring an additional 62,476 shares during the last quarter. LPL Financial LLC increased its stake in shares of HNI by 5.9% in the fourth quarter. LPL Financial LLC now owns 39,360 shares of the business services provider's stock valued at $1,983,000 after buying an additional 2,192 shares during the period. KLP Kapitalforvaltning AS bought a new position in HNI in the 4th quarter valued at approximately $509,000. American Century Companies Inc. grew its holdings in HNI by 9.1% during the 4th quarter. American Century Companies Inc. now owns 109,584 shares of the business services provider's stock worth $5,520,000 after acquiring an additional 9,106 shares during the last quarter. Finally, Xponance Inc. acquired a new position in HNI in the 4th quarter valued at approximately $249,000. Institutional investors own 75.26% of the company's stock.

Insider Activity at HNI

In other news, insider Brian Scott Smith sold 556 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

HNI Stock Up 0.5 %

NYSE:HNI traded up $0.20 during trading hours on Friday, reaching $41.15. The company had a trading volume of 213,029 shares, compared to its average volume of 299,140. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.14 and a beta of 0.78. The business's 50-day simple moving average is $44.78 and its two-hundred day simple moving average is $49.74.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $657.03 million. On average, equities analysts expect that HNI Co. will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Monday, February 24th. HNI's dividend payout ratio is currently 45.67%.

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.