Rhumbline Advisers Has $6.78 Million Stock Holdings in HNI Co. (NYSE:HNI)

Rhumbline Advisers lowered its stake in HNI Co. (NYSE:HNI) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 134,536 shares of the business services provider’s stock after selling 249 shares during the period. Rhumbline Advisers owned approximately 0.28% of HNI worth $6,777,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its holdings in shares of HNI by 1.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,100 shares of the business services provider’s stock worth $1,164,000 after acquiring an additional 300 shares during the period. Wealthstar Advisors LLC acquired a new stake in HNI during the 4th quarter worth approximately $413,000. State of Alaska Department of Revenue boosted its stake in HNI by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 27,168 shares of the business services provider’s stock valued at $1,368,000 after purchasing an additional 267 shares during the period. Longboard Asset Management LP bought a new stake in HNI in the 4th quarter valued at $213,000. Finally, Pacer Advisors Inc. acquired a new position in HNI in the 4th quarter valued at $69,253,000. 75.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.36% of the stock is owned by insiders.

HNI Stock Performance

Shares of NYSE:HNI opened at $47.60 on Wednesday. HNI Co. has a 12-month low of $40.94 and a 12-month high of $58.42. The company’s 50 day moving average price is $49.55 and its two-hundred day moving average price is $51.97. The firm has a market cap of $2.28 billion, a PE ratio of 16.47, a PEG ratio of 1.14 and a beta of 0.90. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

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

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, February 24th. HNI’s payout ratio is currently 45.67%.

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.