Orion Portfolio Solutions LLC Sells 604 Shares of HNI Co. (NYSE:HNI)

Orion Portfolio Solutions LLC cut its position in shares of HNI Co. (NYSE:HNI) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 14,652 shares of the business services provider’s stock after selling 604 shares during the period. Orion Portfolio Solutions LLC’s holdings in HNI were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in HNI by 85.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after buying an additional 258 shares during the period. Vestcor Inc bought a new stake in HNI during the fourth quarter worth about $176,000. Longboard Asset Management LP purchased a new stake in HNI in the fourth quarter worth about $213,000. Cibc World Markets Corp bought a new position in shares of HNI during the fourth quarter valued at approximately $224,000. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of HNI by 5.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 220 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Price Performance

Shares of NYSE:HNI opened at $42.17 on Monday. The company has a market capitalization of $1.98 billion, a PE ratio of 14.59, a PEG ratio of 1.14 and a beta of 0.78. The business has a fifty day moving average price of $46.47 and a 200-day moving average price of $50.53. HNI Co. has a 1-year low of $40.78 and a 1-year high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68.

HNI (NYSE:HNI) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. As a group, equities analysts expect that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

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

Analyst Ratings Changes

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st.

Insiders Place Their Bets

In related news, insider Brian Scott Smith sold 556 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the sale, the insider now directly owns 14,394 shares of the company’s stock, valued at $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.