Wealthstar Advisors LLC Makes New Investment in HNI Co. (NYSE:HNI)

Wealthstar Advisors LLC acquired a new position in HNI Co. (NYSE:HNI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,204 shares of the business services provider's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of HNI in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in shares of HNI by 51.6% in the third 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 period. Covestor Ltd lifted its position in shares of 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. Icon Wealth Advisors LLC bought a new position in shares of HNI during the 3rd quarter worth $84,000. Finally, Farther Finance Advisors LLC increased its holdings in HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock worth $117,000 after acquiring an additional 2,136 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

HNI Price Performance

HNI stock traded up $1.43 during midday trading on Thursday, reaching $49.66. 221,791 shares of the stock were exchanged, compared to its average volume of 284,803. HNI Co. has a 52 week low of $40.94 and a 52 week high of $58.42. 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 $2.37 billion, a PE ratio of 19.25, a PEG ratio of 1.13 and a beta of 0.90. The company's fifty day moving average is $50.66 and its 200-day moving average is $52.20.

HNI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.66%. HNI's dividend payout ratio (DPR) is presently 51.16%.

Insider Activity at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm's 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 of the company's stock, valued at $2,157,266. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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