HNI Co. (NYSE:HNI) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in HNI Co. (NYSE:HNI) by 64.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,183 shares of the business services provider’s stock after selling 74,155 shares during the quarter. Advisors Asset Management Inc.’s holdings in HNI were worth $2,217,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HNI. Segall Bryant & Hamill LLC lifted its holdings in HNI by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock valued at $753,000 after acquiring an additional 287 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of HNI by 8.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,865 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 616 shares during the period. Covestor Ltd lifted its holdings in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after acquiring an additional 508 shares during the last quarter. Summit Global Investments increased its holdings in HNI by 2.1% in the 3rd quarter. Summit Global Investments now owns 25,262 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 522 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in HNI by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider’s stock valued at $12,839,000 after purchasing an additional 4,358 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This represents a 14.53 % 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 Price Performance

HNI stock opened at $56.17 on Monday. The firm has a market cap of $2.68 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The company’s 50 day moving average is $53.25 and its two-hundred day moving average is $49.95. HNI Co. has a 52-week low of $38.55 and a 52-week high of $57.59. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

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

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. HNI’s dividend payout ratio (DPR) is currently 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.