HNI Co. (NYSE:HNI) Stake Boosted by Systematic Financial Management LP

Systematic Financial Management LP raised its stake in shares of HNI Co. (NYSE:HNI - Free Report) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 465,837 shares of the business services provider's stock after buying an additional 29,093 shares during the quarter. Systematic Financial Management LP owned about 0.97% of HNI worth $25,081,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Eastern Bank acquired a new stake in HNI during the 3rd quarter valued at $27,000. Quest Partners LLC acquired a new stake in HNI during the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its holdings 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 buying an additional 228 shares during the last quarter. Covestor Ltd grew its holdings in HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider's stock valued at $40,000 after buying an additional 508 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of HNI during the third quarter worth $84,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company's stock, valued at approximately $642,708. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total value of $113,900.00. Following the sale, the director now directly owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by insiders.

HNI Trading Down 1.7 %

Shares of HNI traded down $0.94 during trading hours on Thursday, hitting $55.74. The stock had a trading volume of 293,718 shares, compared to its average volume of 255,995. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The firm has a market cap of $2.66 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.62 and a beta of 0.88. The company's fifty day simple moving average is $53.93 and its 200 day simple moving average is $50.54. HNI Co. has a 12-month low of $39.44 and a 12-month high of $58.42.

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

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, November 18th. HNI's payout ratio is 51.16%.

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.