Edgestream Partners L.P. Boosts Holdings in HNI Co. (NYSE:HNI)

Edgestream Partners L.P. boosted its stake in HNI Co. (NYSE:HNI) by 115.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,283 shares of the business services provider’s stock after acquiring an additional 12,497 shares during the period. Edgestream Partners L.P.’s holdings in HNI were worth $1,173,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. raised its stake in shares of HNI by 5.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock valued at $227,000 after buying an additional 220 shares during the period. Inspire Investing LLC raised its stake in shares of HNI by 3.1% during the 4th quarter. Inspire Investing LLC now owns 7,942 shares of the business services provider’s stock valued at $400,000 after purchasing an additional 242 shares during the period. Smartleaf Asset Management LLC lifted its holdings in HNI by 85.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock worth $28,000 after purchasing an additional 258 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in HNI by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 27,168 shares of the business services provider’s stock worth $1,368,000 after purchasing an additional 267 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in HNI by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock valued at $753,000 after buying an additional 287 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at HNI

In related news, insider Brian Scott Smith sold 556 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.36% of the company’s stock.

HNI Stock Down 0.2 %

HNI opened at $44.21 on Wednesday. The company has a market cap of $2.08 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.14 and a beta of 0.90. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The business’s 50-day moving average price is $48.55 and its 200-day moving average price is $51.63. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

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

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Monday, February 24th. HNI’s dividend payout ratio (DPR) is presently 45.67%.

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.