Livforsakringsbolaget Skandia Omsesidigt Invests $1.35 Million in HNI Co. (NYSE:HNI)

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of HNI Co. (NYSE:HNI) during the 4th quarter, Holdings Channel reports. The fund acquired 32,200 shares of the business services provider’s stock, valued at approximately $1,347,000.

Several other hedge funds have also modified their holdings of the company. Snowden Capital Advisors LLC raised its holdings in HNI by 3.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 11,609 shares of the business services provider’s stock valued at $327,000 after buying an additional 387 shares during the period. Ameritas Investment Partners Inc. raised its holdings in HNI by 12.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,781 shares of the business services provider’s stock valued at $107,000 after buying an additional 416 shares during the period. Equitable Trust Co. raised its holdings in HNI by 7.1% during the 4th quarter. Equitable Trust Co. now owns 7,352 shares of the business services provider’s stock valued at $308,000 after buying an additional 486 shares during the period. Teacher Retirement System of Texas raised its holdings in HNI by 1.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 28,698 shares of the business services provider’s stock valued at $994,000 after buying an additional 521 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in HNI by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 5,536 shares of the business services provider’s stock valued at $156,000 after buying an additional 570 shares during the period. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Stock Performance

Shares of HNI stock opened at $41.33 on Thursday. HNI Co. has a 52 week low of $24.81 and a 52 week high of $45.47. The company has a quick ratio of 0.73, a current ratio of 1.16 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $43.35 and its two-hundred day moving average is $40.54. The company has a market capitalization of $1.95 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86.

HNI (NYSE:HNI) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. HNI had a return on equity of 16.97% and a net margin of 2.03%. The business had revenue of $679.80 million for the quarter, compared to the consensus estimate of $686.15 million. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. As a group, analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s payout ratio is currently 125.49%.

Insider Activity at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now owns 40,718 shares of the company’s stock, valued at $1,791,592. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other HNI news, EVP Vincent P. Berger sold 9,976 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $43.01, for a total value of $429,067.76. Following the completion of the sale, the executive vice president now directly owns 67,025 shares in the company, valued at $2,882,745.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total value of $88,000.00. Following the completion of the sale, the director now owns 40,718 shares of the company’s stock, valued at $1,791,592. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock valued at $749,534 over the last quarter. 3.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th.

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.