Flagship Harbor Advisors LLC acquired a new position in shares of HNI Co. (NYSE:HNI – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,724 shares of the business services provider’s stock, valued at approximately $238,000.
A number of other institutional investors have also recently bought and sold shares of HNI. State Street Corp raised its stake in shares of HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock worth $101,033,000 after purchasing an additional 20,717 shares in the last quarter. Ritholtz Wealth Management bought a new position in HNI during the fourth quarter valued at approximately $876,000. SG Americas Securities LLC acquired a new stake in HNI in the third quarter valued at approximately $450,000. JPMorgan Chase & Co. grew its position in HNI by 54.4% in the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock worth $7,372,000 after acquiring an additional 48,237 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of HNI by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock worth $1,161,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.
HNI Stock Down 0.9 %
HNI opened at $50.21 on Thursday. The firm has a market cap of $2.40 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.91. 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 business has a 50 day moving average price of $52.22 and a 200 day moving average price of $52.28. HNI Co. has a twelve month low of $40.22 and a twelve month high of $58.42.
HNI (NYSE:HNI – Get Free Report) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $672.20 million during 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 business’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Research analysts forecast that HNI Co. will post 2.93 EPS for the current year.
HNI Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.63%. HNI’s dividend payout ratio is presently 51.16%.
Insider Activity at HNI
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 value of $113,900.00. Following the completion of the sale, the director now directly owns 37,880 shares of the company’s stock, valued at $2,157,266. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.36% of the stock is owned by corporate insiders.
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.
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