HNI Co. (NYSE:HNI) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in HNI Co. (NYSE:HNI) by 28.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,698 shares of the business services provider’s stock after selling 11,997 shares during the quarter. Intech Investment Management LLC’s holdings in HNI were worth $1,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in HNI in the fourth quarter valued at about $69,253,000. FMR LLC increased its stake in HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after purchasing an additional 1,346,999 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in HNI by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock worth $31,646,000 after purchasing an additional 105,034 shares during the last quarter. Barclays PLC boosted its position in HNI by 216.7% during the third quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after purchasing an additional 63,724 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in HNI by 54.4% in the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after purchasing an additional 48,237 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

HNI Stock Down 1.0 %

HNI stock opened at $43.29 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The company’s 50 day simple moving average is $47.66 and its 200-day simple moving average is $51.05. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The firm has a market capitalization of $2.04 billion, a PE ratio of 14.98, a P/E/G ratio of 1.14 and a beta of 0.90.

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

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.05%. The ex-dividend date was Monday, February 24th. HNI’s payout ratio is 45.67%.

Insider Buying and Selling at HNI

In other 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.36% of the stock is owned by insiders.

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.