Smartleaf Asset Management LLC Has $28,000 Stake in HNI Co. (NYSE:HNI)

Smartleaf Asset Management LLC raised its stake in shares of HNI Co. (NYSE:HNI) by 85.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 561 shares of the business services provider’s stock after purchasing an additional 258 shares during the period. Smartleaf Asset Management LLC’s holdings in HNI were worth $28,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HNI. Pacer Advisors Inc. bought a new position in shares of HNI during the 4th quarter worth approximately $69,253,000. FMR LLC lifted its position in shares of HNI by 275.3% during the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock worth $98,861,000 after buying an additional 1,346,999 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 105,034 shares in the last quarter. Barclays PLC lifted its position in shares of HNI by 216.7% during the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after buying an additional 63,724 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of HNI by 54.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock worth $7,372,000 after buying an additional 48,237 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

HNI Trading Down 0.3 %

NYSE:HNI opened at $44.07 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.07 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. The firm’s 50 day moving average is $48.43 and its 200 day moving average is $51.57. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42.

HNI (NYSE:HNI) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $642.50 million for the quarter, compared to analysts’ expectations of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. Sell-side analysts expect that HNI Co. will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. HNI’s dividend payout ratio (DPR) is presently 45.67%.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the sale, the insider now owns 14,394 shares of the company’s stock, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.