HNI Co. (NYSE:HNI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of HNI Co. (NYSE:HNI) by 54.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,923 shares of the business services provider’s stock after purchasing an additional 48,237 shares during the period. JPMorgan Chase & Co. owned 0.29% of HNI worth $7,372,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HNI. Principal Financial Group Inc. increased its position in HNI by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider’s stock worth $12,839,000 after purchasing an additional 4,358 shares in the last quarter. Geode Capital Management LLC increased its position in shares of HNI by 0.7% in the third 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 in the last quarter. Barclays PLC raised its stake in shares of HNI by 216.7% in the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock valued at $5,015,000 after acquiring an additional 63,724 shares during the period. MML Investors Services LLC acquired a new position in shares of HNI during the 3rd quarter valued at $281,000. Finally, Zacks Investment Management boosted its position in HNI by 12.6% during the 3rd quarter. Zacks Investment Management now owns 5,158 shares of the business services provider’s stock worth $278,000 after purchasing an additional 578 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

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

HNI Stock Up 3.4 %

NYSE HNI opened at $48.72 on Wednesday. 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 Co. has a fifty-two week low of $39.95 and a fifty-two week high of $58.42. The business has a 50 day moving average price of $53.20 and a two-hundred day moving average price of $51.91. The stock has a market cap of $2.33 billion, a PE ratio of 18.88, a P/E/G ratio of 1.53 and a beta of 0.91.

HNI (NYSE:HNI) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $712.75 million. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, November 18th. HNI’s dividend payout ratio (DPR) is 51.16%.

Insider Activity at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.36% of the stock is currently owned by company insiders.

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.