HNI Co. (NYSE:HNI) Stock Position Decreased by Grace & White Inc. NY

Grace & White Inc. NY cut its position in shares of HNI Co. (NYSE:HNI) by 36.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,025 shares of the business services provider’s stock after selling 19,489 shares during the period. Grace & White Inc. NY owned 0.07% of HNI worth $1,832,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HNI. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of HNI during the 1st quarter worth approximately $245,000. BNP Paribas Financial Markets raised its position in shares of HNI by 86.6% during the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after acquiring an additional 16,646 shares during the last quarter. Nordea Investment Management AB raised its position in shares of HNI by 11.7% during the first quarter. Nordea Investment Management AB now owns 89,002 shares of the business services provider’s stock worth $4,047,000 after acquiring an additional 9,329 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in HNI in the first quarter valued at about $202,000. Finally, Texas Permanent School Fund Corp increased its holdings in HNI by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after purchasing an additional 544 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark boosted their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th.

HNI Price Performance

Shares of NYSE HNI opened at $53.27 on Tuesday. The stock has a market capitalization of $2.52 billion, a PE ratio of 39.46, a P/E/G ratio of 1.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The business has a fifty day moving average price of $52.50 and a two-hundred day moving average price of $48.19. HNI Co. has a fifty-two week low of $32.70 and a fifty-two week high of $56.13.

HNI (NYSE:HNI) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. The company had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. During the same quarter last year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that HNI Co. will post 3.17 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.48%. HNI’s dividend payout ratio (DPR) is presently 97.78%.

Insider Buying and Selling at HNI

In other HNI news, VP Steven M. Bradford sold 5,976 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.15, for a total value of $317,624.40. Following the sale, the vice president now owns 61,642 shares in the company, valued at approximately $3,276,272.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Steven M. Bradford sold 5,976 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.15, for a total value of $317,624.40. Following the transaction, the vice president now directly owns 61,642 shares in the company, valued at approximately $3,276,272.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,696 shares of company stock worth $6,136,288. Insiders own 3.36% of the company’s stock.

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.