Fmr LLC Acquires 124,391 Shares of HNI Co. (NYSE:HNI)

Fmr LLC boosted its holdings in shares of HNI Co. (NYSE:HNI) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,960,596 shares of the business services provider’s stock after purchasing an additional 124,391 shares during the period. Fmr LLC owned about 4.10% of HNI worth $98,755,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HNI. Aster Capital Management DIFC Ltd bought a new position in HNI during the 4th quarter worth approximately $55,000. Wells Fargo & Company MN increased its holdings in HNI by 23.2% in the 4th quarter. Wells Fargo & Company MN now owns 34,509 shares of the business services provider’s stock worth $1,738,000 after acquiring an additional 6,497 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in HNI during the 4th quarter worth about $992,000. Geode Capital Management LLC grew its position in shares of HNI by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider’s stock valued at $54,992,000 after purchasing an additional 6,668 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of HNI by 6.1% during the fourth quarter. Alliancebernstein L.P. now owns 55,606 shares of the business services provider’s stock worth $2,801,000 after purchasing an additional 3,200 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

HNI Stock Performance

HNI stock opened at $41.76 on Wednesday. The stock’s 50 day moving average is $45.22 and its 200 day moving average is $49.94. The company has a market capitalization of $1.96 billion, a P/E ratio of 14.45, a PEG ratio of 1.14 and a beta of 0.78. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. On average, equities research analysts predict that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, February 24th. HNI’s payout ratio is 45.67%.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.37% of the stock is owned by insiders.

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.