Ritholtz Wealth Management Purchases New Holdings in HNI Co. (NYSE:HNI)

Ritholtz Wealth Management acquired a new position in HNI Co. (NYSE:HNI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,386 shares of the business services provider's stock, valued at approximately $876,000.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of HNI by 1.1% in the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider's stock worth $101,033,000 after buying an additional 20,717 shares during the period. FMR LLC lifted its holdings 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of HNI by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider's stock worth $73,180,000 after purchasing an additional 9,901 shares during the period. Geode Capital Management LLC increased its stake in shares of HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider's stock worth $58,419,000 after purchasing an additional 7,553 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of HNI by 6.7% during the 3rd quarter. Systematic Financial Management LP now owns 465,837 shares of the business services provider's stock valued at $25,081,000 after purchasing an additional 29,093 shares during the period. 75.26% of the stock is currently owned by institutional investors.

HNI Price Performance

NYSE HNI traded up $0.39 during trading hours on Monday, reaching $50.81. The company's stock had a trading volume of 243,680 shares, compared to its average volume of 409,295. HNI Co. has a 1 year low of $39.96 and a 1 year high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.07 and a beta of 0.91. The firm's 50-day moving average price is $52.95 and its 200-day moving average price is $52.03.

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

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.60%. HNI's dividend payout ratio (DPR) is 51.16%.

Insider Buying and Selling

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction 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 transaction, the director now owns 37,880 shares in the company, valued at $2,157,266. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.