Livforsakringsbolaget Skandia Omsesidigt Lowers Stock Position in HNI Co. (NYSE:HNI)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in HNI Co. (NYSE:HNI - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,300 shares of the business services provider's stock after selling 11,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.07% of HNI worth $1,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of HNI by 129.0% in the second quarter. AQR Capital Management LLC now owns 15,002 shares of the business services provider's stock worth $675,000 after acquiring an additional 8,452 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in HNI by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider's stock worth $1,161,000 after purchasing an additional 1,004 shares in the last quarter. SG Americas Securities LLC purchased a new stake in HNI during the 3rd quarter valued at about $450,000. GAMMA Investing LLC increased its stake in HNI by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after purchasing an additional 228 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in HNI in the third quarter worth about $271,000. Hedge funds and other institutional investors own 75.26% of the company's stock.

Insider Activity

In other news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now directly owns 37,880 shares of the company's stock, valued at $2,157,266. This represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.36% of the company's stock.

HNI Stock Performance

Shares of NYSE:HNI traded up $0.50 during midday trading on Tuesday, reaching $49.29. 232,254 shares of the company's stock traded hands, compared to its average volume of 288,558. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a one year low of $40.94 and a one year high of $58.42. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.13 and a beta of 0.90. The stock has a 50 day moving average of $50.83 and a 200 day moving average of $52.23.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.68%. HNI's dividend payout ratio is currently 51.16%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research 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.