Intech Investment Management LLC Reduces Position in HNI Co. (NYSE:HNI)

Intech Investment Management LLC reduced its position in shares of HNI Co. (NYSE:HNI) by 28.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,698 shares of the business services provider’s stock after selling 11,997 shares during the period. Intech Investment Management LLC owned about 0.06% of HNI worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HNI. Contravisory Investment Management Inc. boosted its position 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 worth $227,000 after acquiring an additional 220 shares in the last quarter. Inspire Investing LLC boosted its holdings in HNI by 3.1% in the fourth quarter. Inspire Investing LLC now owns 7,942 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 242 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 purchasing an additional 258 shares in the last quarter. State of Alaska Department of Revenue increased its stake in HNI by 1.0% in the fourth 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 last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Stock Down 1.0 %

HNI stock opened at $43.29 on Friday. The company has a market capitalization of $2.04 billion, a P/E ratio of 14.98, a PEG ratio of 1.14 and a beta of 0.90. 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 fifty-two week low of $40.94 and a fifty-two week high of $58.42. The stock has a 50-day simple moving average of $47.66 and a 200-day simple moving average of $51.05.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $642.50 million during 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 expect that HNI Co. will post 3.6 earnings per share for the current year.

HNI Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions 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 stock was 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 approximately $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.36% of the company’s stock.

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.