Schroder Investment Management Group Lowers Stock Position in HNI Co. (NYSE:HNI)

Schroder Investment Management Group trimmed its holdings in shares of HNI Co. (NYSE:HNI) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,727 shares of the business services provider’s stock after selling 6,141 shares during the period. Schroder Investment Management Group’s holdings in HNI were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its position in HNI by 29.8% in the third quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider’s stock worth $1,152,000 after acquiring an additional 4,911 shares in the last quarter. State Street Corp increased its holdings in shares of HNI by 1.1% in the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock valued at $101,033,000 after purchasing an additional 20,717 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of HNI by 64.0% in the third quarter. Jane Street Group LLC now owns 72,922 shares of the business services provider’s stock valued at $3,926,000 after purchasing an additional 28,459 shares during the period. Zacks Investment Management boosted its holdings in HNI by 12.6% during the third quarter. Zacks Investment Management now owns 5,158 shares of the business services provider’s stock worth $278,000 after buying an additional 578 shares in the last quarter. Finally, MML Investors Services LLC acquired a new position in HNI during the third quarter worth about $281,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 556 shares of the company’s 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 sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

HNI Trading Down 1.3 %

Shares of HNI stock opened at $42.17 on Friday. HNI Co. has a fifty-two week low of $40.78 and a fifty-two week 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. The business has a fifty day simple moving average of $46.47 and a 200-day simple moving average of $50.56. The stock has a market cap of $1.98 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.14 and a beta of 0.78.

HNI (NYSE:HNI) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping 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 net margin of 5.52% and a return on equity of 18.27%. On average, analysts forecast that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

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

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.