Barclays PLC Buys 63,724 Shares of HNI Co. (NYSE:HNI)

Barclays PLC raised its stake in HNI Co. (NYSE:HNI) by 216.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,131 shares of the business services provider’s stock after purchasing an additional 63,724 shares during the quarter. Barclays PLC’s holdings in HNI were worth $5,015,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HNI. State Street Corp grew 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 valued at $101,033,000 after buying an additional 20,717 shares in the last quarter. FMR LLC lifted its stake in HNI by 275.3% in the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after acquiring an additional 1,346,999 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of HNI by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after acquiring an additional 9,901 shares during the period. Bank of New York Mellon Corp increased its stake in shares of HNI by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock worth $25,437,000 after purchasing an additional 17,151 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of HNI by 6.7% in 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. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

Insider Activity

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.36% of the stock is owned by company insiders.

HNI Stock Up 1.4 %

HNI opened at $51.63 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $54.17 and its 200 day simple moving average is $51.22. HNI Co. has a 1-year low of $39.95 and a 1-year high of $58.42. The stock has a market cap of $2.47 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88.

HNI (NYSE:HNI) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, research analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Monday, November 18th. HNI’s dividend payout ratio is presently 51.16%.

HNI 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.