HNI Co. (NYSE:HNI) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY lessened its holdings in shares of HNI Co. (NYSE:HNI) by 31.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,514 shares of the business services provider’s stock after selling 24,455 shares during the period. Grace & White Inc. NY’s holdings in HNI were worth $2,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HNI. Allspring Global Investments Holdings LLC acquired a new stake in shares of HNI during the 3rd quarter worth about $56,000. Hsbc Holdings PLC acquired a new stake in shares of HNI during the 3rd quarter worth about $207,000. Cornerstone Investment Partners LLC acquired a new stake in shares of HNI during the 4th quarter worth about $216,000. OLD National Bancorp IN acquired a new stake in shares of HNI during the 3rd quarter worth about $223,000. Finally, Carlson Capital Management acquired a new stake in shares of HNI during the 4th quarter worth about $228,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Buying and Selling at HNI

In related news, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the sale, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction on 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 directly owns 40,718 shares in the company, valued at $1,791,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Miguel M. Calado sold 2,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the transaction, the director now directly owns 36,988 shares of the company’s stock, valued at $1,590,114.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,374 shares of company stock worth $749,534. 3.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

HNI Stock Performance

HNI traded up $0.51 during trading on Tuesday, hitting $43.33. 165,195 shares of the stock were exchanged, compared to its average volume of 256,431. The firm has a market capitalization of $2.05 billion, a P/E ratio of 42.38, a PEG ratio of 1.20 and a beta of 0.86. HNI Co. has a 1-year low of $24.81 and a 1-year high of $45.47. The stock has a fifty day moving average price of $43.32 and a two-hundred day moving average price of $40.74. The company has a quick ratio of 0.73, a current ratio of 1.16 and a debt-to-equity ratio of 0.57.

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

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were paid a $0.32 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.28 annualized dividend and a dividend yield of 2.95%. HNI’s dividend payout ratio (DPR) is currently 125.49%.

HNI 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.