HNI Co. (NYSE:HNI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in HNI Co. (NYSE:HNI) by 32.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,695 shares of the business services provider’s stock after selling 20,919 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of HNI worth $1,967,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HNI. Dimensional Fund Advisors LP raised its position in HNI by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,578,570 shares of the business services provider’s stock valued at $66,032,000 after purchasing an additional 29,139 shares during the period. Norges Bank purchased a new stake in HNI in the 4th quarter valued at about $13,368,000. Franklin Resources Inc. lifted its position in HNI by 20.0% in the fourth quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider’s stock valued at $51,744,000 after buying an additional 206,419 shares during the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in HNI in the fourth quarter valued at about $238,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of HNI during the fourth quarter valued at about $42,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HNI has been the topic of several recent analyst reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Benchmark raised their price target on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Insider Buying and Selling

In other HNI news, CFO Marshall H. Bridges sold 4,138 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.50, for a total value of $221,383.00. Following the sale, the chief financial officer now owns 78,346 shares of the company’s stock, valued at approximately $4,191,511. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Friday, July 12th. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the sale, the director now directly owns 39,725 shares of the company’s stock, valued at approximately $1,907,197.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marshall H. Bridges sold 4,138 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $53.50, for a total value of $221,383.00. Following the completion of the transaction, the chief financial officer now directly owns 78,346 shares in the company, valued at approximately $4,191,511. The disclosure for this sale can be found here. Insiders sold 134,029 shares of company stock valued at $6,766,593 in the last three months. 3.36% of the stock is owned by corporate insiders.

HNI Stock Down 2.1 %

Shares of NYSE:HNI opened at $52.30 on Friday. The firm has a market capitalization of $2.47 billion, a PE ratio of 38.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85. HNI Co. has a 1 year low of $32.70 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The firm’s 50-day moving average is $51.57 and its two-hundred day moving average is $46.80.

HNI (NYSE:HNI) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm had revenue of $623.70 million for the quarter, compared to the consensus estimate of $637.74 million. During the same period in the prior year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts predict that HNI Co. will post 3.17 EPS for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. HNI’s dividend payout ratio (DPR) is presently 97.78%.

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.