HNI Co. (NYSE:HNI) Holdings Decreased by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in HNI Co. (NYSE:HNI) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,440 shares of the business services provider’s stock after selling 62,100 shares during the period. Prudential Financial Inc. owned about 0.13% of HNI worth $3,195,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, 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 value of $27,744.40. Following the transaction, the insider now owns 14,394 shares of the company’s stock, valued at $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.37% of the stock is currently owned by insiders.

HNI Trading Up 1.4 %

NYSE:HNI opened at $45.39 on Thursday. The company has a market capitalization of $2.13 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.14 and a beta of 0.78. The stock’s 50 day moving average price is $46.80 and its 200 day moving average price is $50.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. HNI Co. has a 52 week low of $40.94 and a 52 week high of $58.42.

HNI (NYSE:HNI) last released its quarterly earnings results 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. The business had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. On average, research analysts forecast that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, February 24th. This represents a $1.32 annualized dividend and a dividend yield of 2.91%. HNI’s dividend payout ratio (DPR) is presently 45.67%.

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.