HNI Co. (NYSE:HNI) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY cut its holdings in HNI Co. (NYSE:HNI) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,429 shares of the business services provider’s stock after selling 596 shares during the period. Grace & White Inc. NY’s holdings in HNI were worth $1,684,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HNI. Eastern Bank acquired a new stake in shares of HNI during the 3rd quarter worth about $27,000. GAMMA Investing LLC increased its stake in HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 228 shares during the last quarter. Covestor Ltd raised its holdings in HNI by 219.9% during the third quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after purchasing an additional 508 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of HNI during the 3rd quarter worth approximately $84,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after buying an additional 2,136 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

Insider Transactions at HNI

In other news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the completion of the sale, the director now owns 37,880 shares in the company, valued at approximately $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.36% of the company’s stock.

HNI Stock Down 2.3 %

HNI stock opened at $48.24 on Thursday. The stock has a 50-day simple moving average of $50.66 and a 200-day simple moving average of $52.20. The company has a market capitalization of $2.31 billion, a P/E ratio of 18.70, a PEG ratio of 1.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a fifty-two week low of $40.94 and a fifty-two week high of $58.42.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, February 24th. HNI’s payout ratio is currently 51.16%.

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.