Nordea Investment Management AB Raises Stock Holdings in HNI Co. (NYSE:HNI)

Nordea Investment Management AB raised its position in shares of HNI Co. (NYSE:HNI) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 120,029 shares of the business services provider’s stock after buying an additional 7,023 shares during the quarter. Nordea Investment Management AB’s holdings in HNI were worth $6,065,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock worth $98,861,000 after buying an additional 1,346,999 shares during the period. Barclays PLC increased its stake in shares of HNI by 216.7% in the third quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after acquiring an additional 63,724 shares during the period. JPMorgan Chase & Co. lifted its position in HNI by 54.4% during the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after purchasing an additional 48,237 shares during the period. Intech Investment Management LLC purchased a new stake in HNI in the third quarter valued at $2,245,000. Finally, Clifford Capital Partners LLC grew its position in HNI by 14.6% during the 2nd quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock worth $13,125,000 after purchasing an additional 37,155 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related 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 value of $113,900.00. Following the completion of the transaction, the director now directly owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction 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 directly owns 11,902 shares in the company, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. 3.36% of the stock is owned by insiders.

HNI Stock Performance

HNI opened at $47.87 on Friday. The stock has a market cap of $2.29 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. The firm has a fifty day moving average price of $53.43 and a 200 day moving average price of $51.77. HNI Co. has a 1 year low of $39.95 and a 1 year high of $58.42.

HNI (NYSE:HNI) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. Equities research analysts anticipate that HNI Co. will post 2.93 earnings per share for the current 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. The ex-dividend date was Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.76%. HNI’s dividend payout ratio (DPR) 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.