Public Sector Pension Investment Board Sells 4,100 Shares of HNI Co. (NYSE:HNI)

Public Sector Pension Investment Board trimmed its holdings in shares of HNI Co. (NYSE:HNI) by 3.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 99,994 shares of the business services provider’s stock after selling 4,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in HNI were worth $5,384,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Eastern Bank acquired a new position in shares of HNI during the 3rd quarter valued at $27,000. Quest Partners LLC acquired a new position in shares of HNI during the second quarter valued at about $29,000. GAMMA Investing LLC raised its holdings in shares of HNI by 51.6% during the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 228 shares during the period. Covestor Ltd boosted its position in shares of HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after purchasing an additional 508 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in HNI in the 3rd quarter valued at about $84,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.36% of the stock is currently owned by corporate insiders.

HNI Stock Performance

Shares of HNI stock opened at $56.65 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $53.65 and a two-hundred day simple moving average of $50.35. HNI Co. has a 12 month low of $38.63 and a 12 month high of $58.42. The firm has a market capitalization of $2.71 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85.

HNI (NYSE:HNI) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Analysts forecast that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a yield of 2.33%. HNI’s dividend payout ratio (DPR) is currently 51.16%.

Analyst Ratings Changes

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

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.