HNI Co. (NYSE:HNI) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of HNI Co. (NYSE:HNI) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,718,014 shares of the business services provider’s stock after acquiring an additional 62,476 shares during the period. Vanguard Group Inc. owned about 11.96% of HNI worth $288,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 258 shares in the last quarter. Vestcor Inc bought a new stake in shares of HNI in the 4th quarter worth about $176,000. Longboard Asset Management LP acquired a new stake in shares of HNI in the 4th quarter valued at about $213,000. Cibc World Markets Corp bought a new position in shares of HNI during the fourth quarter worth about $224,000. Finally, Contravisory Investment Management Inc. grew its stake in HNI by 5.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock worth $227,000 after purchasing an additional 220 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.37% of the stock is owned by company insiders.

Analyst Ratings Changes

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

HNI Stock Performance

HNI stock opened at $42.17 on Friday. The company has a market cap of $1.98 billion, a PE ratio of 14.59, a P/E/G ratio of 1.14 and a beta of 0.78. HNI Co. has a 12 month low of $40.78 and a 12 month high of $58.42. The company has a fifty day moving average price of $46.47 and a two-hundred day moving average price of $50.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share 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 the consensus estimate of $657.03 million. Research analysts expect that HNI Co. will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 3.13%. HNI’s dividend payout ratio is currently 45.67%.

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.