Farther Finance Advisors LLC Has $98,000 Holdings in HNI Co. (NYSE:HNI)

Farther Finance Advisors LLC cut its holdings in shares of HNI Co. (NYSE:HNI) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,944 shares of the business services provider’s stock after selling 237 shares during the period. Farther Finance Advisors LLC’s holdings in HNI were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock valued at $101,033,000 after purchasing an additional 20,717 shares during the period. FMR LLC increased its stake in shares of HNI by 275.3% in the 3rd 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. Pacer Advisors Inc. bought a new stake in shares of HNI in the 4th quarter valued at about $69,253,000. Geode Capital Management LLC boosted its stake in HNI by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock worth $58,419,000 after acquiring an additional 7,553 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in HNI by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock worth $31,646,000 after acquiring an additional 105,034 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st.

HNI Price Performance

HNI opened at $43.29 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The company has a fifty day simple moving average of $47.66 and a 200 day simple moving average of $51.05. The stock has a market cap of $2.04 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. On average, research analysts expect that HNI Co. will post 3.6 EPS for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Monday, February 24th. HNI’s payout ratio is presently 45.67%.

Insider Buying and Selling

In related news, insider Brian Scott Smith sold 556 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares of the company’s stock, valued at approximately $718,260.60. This represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.36% of the company’s stock.

HNI Company 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.