O Shaughnessy Asset Management LLC Acquires 26,840 Shares of HNI Co. (NYSE:HNI)

O Shaughnessy Asset Management LLC lifted its holdings in shares of HNI Co. (NYSE:HNI) by 335.4% in the 4th quarter, HoldingsChannel reports. The fund owned 34,842 shares of the business services provider’s stock after purchasing an additional 26,840 shares during the period. O Shaughnessy Asset Management LLC’s holdings in HNI were worth $1,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in HNI during the 4th quarter worth approximately $69,253,000. Norges Bank bought a new stake in HNI during the fourth quarter worth $7,076,000. Bank of New York Mellon Corp raised its position in HNI by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock valued at $31,646,000 after buying an additional 105,034 shares during the last quarter. Barclays PLC lifted its stake in HNI by 216.7% during the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock valued at $5,015,000 after acquiring an additional 63,724 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in HNI by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider’s stock worth $288,016,000 after acquiring an additional 62,476 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HNI Stock Performance

HNI stock opened at $42.17 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.98 billion, a PE ratio of 14.59, a P/E/G ratio of 1.14 and a beta of 0.78. The business has a 50 day moving average of $46.47 and a 200-day moving average of $50.56. HNI Co. has a 12-month low of $40.78 and a 12-month high of $58.42.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The firm 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%. As a group, sell-side analysts expect that HNI Co. will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, February 24th. HNI’s dividend payout ratio is 45.67%.

Insider Buying and Selling at HNI

In related 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.37% of the company’s stock.

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.