Vestcor Inc Buys Shares of 3,493 HNI Co. (NYSE:HNI)

Vestcor Inc purchased a new position in shares of HNI Co. (NYSE:HNI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,493 shares of the business services provider’s stock, valued at approximately $176,000.

A number of other hedge funds also recently modified their holdings of the stock. Segall Bryant & Hamill LLC boosted its position in HNI by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock worth $753,000 after purchasing an additional 287 shares during the period. Intech Investment Management LLC bought a new position in HNI in the 3rd quarter worth approximately $2,245,000. Icon Wealth Advisors LLC purchased a new position in HNI in the 3rd quarter valued at approximately $84,000. FMR LLC raised its holdings in HNI by 275.3% during the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after acquiring an additional 1,346,999 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of HNI by 29.8% during the third quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider’s stock worth $1,152,000 after acquiring an additional 4,911 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of the business’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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.36% of the stock is owned by company insiders.

HNI Price Performance

Shares of NYSE:HNI opened at $43.48 on Wednesday. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. 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 cap of $2.04 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.14 and a beta of 0.90. The company has a 50 day moving average of $47.89 and a 200 day moving average of $51.23.

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, topping the consensus estimate of $0.74 by $0.13. The firm 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%. As a group, sell-side analysts forecast that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, February 24th. HNI’s payout ratio is 45.67%.

Analyst Upgrades and Downgrades

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

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.