KLP Kapitalforvaltning AS Makes New Investment in HNI Co. (NYSE:HNI)

KLP Kapitalforvaltning AS acquired a new stake in shares of HNI Co. (NYSE:HNI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,100 shares of the business services provider's stock, valued at approximately $509,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock worth $28,000 after purchasing an additional 258 shares in the last quarter. Vestcor Inc purchased a new position in shares of HNI in the 4th quarter worth approximately $176,000. Longboard Asset Management LP bought a new position in shares of HNI during the 4th quarter worth approximately $213,000. Cibc World Markets Corp purchased a new stake in HNI during the fourth quarter valued at approximately $224,000. Finally, Contravisory Investment Management Inc. boosted its stake in HNI by 5.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider's stock valued at $227,000 after acquiring an additional 220 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 directly owns 14,394 shares of the company's stock, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.37% of the stock is currently owned by company insiders.

HNI Stock Down 2.2 %

NYSE HNI traded down $0.91 during trading on Tuesday, hitting $40.29. The company's stock had a trading volume of 441,040 shares, compared to its average volume of 295,810. HNI Co. has a fifty-two week low of $40.00 and a fifty-two week high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The company has a market cap of $1.89 billion, a PE ratio of 13.94, a P/E/G ratio of 1.14 and a beta of 0.78. The business's 50 day simple moving average is $45.86 and its 200-day simple moving average is $50.29.

HNI (NYSE:HNI - Get Free Report) last released its earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The company had revenue of $642.50 million during the quarter, compared to analysts' expectations of $657.03 million. On average, equities analysts anticipate that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Monday, February 24th. HNI's payout ratio is 45.67%.

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.