Legal & General Group Plc Trims Holdings in HNI Corp (HNI)

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Legal & General Group Plc lowered its position in HNI Corp (NYSE:HNI) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,452 shares of the business services provider’s stock after selling 2,820 shares during the quarter. Legal & General Group Plc’s holdings in HNI were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in HNI by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,949,035 shares of the business services provider’s stock valued at $175,343,000 after buying an additional 105,735 shares during the last quarter. Vanguard Group Inc lifted its stake in HNI by 1.7% in the third quarter. Vanguard Group Inc now owns 4,079,643 shares of the business services provider’s stock valued at $180,483,000 after buying an additional 66,967 shares during the last quarter. Vanguard Group Inc. lifted its stake in HNI by 1.7% in the third quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock valued at $180,483,000 after buying an additional 66,967 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in HNI by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,292,019 shares of the business services provider’s stock valued at $45,776,000 after buying an additional 3,613 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in HNI by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 779,326 shares of the business services provider’s stock valued at $34,477,000 after buying an additional 14,637 shares during the last quarter. Institutional investors own 72.50% of the company’s stock.

In other news, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $42.09, for a total transaction of $210,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

HNI stock opened at $38.38 on Friday. HNI Corp has a 12 month low of $32.55 and a 12 month high of $45.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.22 and a quick ratio of 0.86. The company has a market cap of $1.67 billion, a PE ratio of 15.93 and a beta of 1.30.

HNI (NYSE:HNI) last released its quarterly earnings results on Monday, February 25th. The business services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. HNI had a return on equity of 19.79% and a net margin of 4.14%. The business had revenue of $598.10 million during the quarter, compared to analysts’ expectations of $604.93 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that HNI Corp will post 2.7 EPS for the current fiscal year.

A number of equities research analysts have weighed in on HNI shares. TheStreet cut HNI from a “b” rating to a “c+” rating in a research note on Thursday, January 3rd. Sidoti cut HNI from a “buy” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $43.00 in a research note on Tuesday, February 26th. Seaport Global Securities restated a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Finally, Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.00.

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About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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