Pacer Advisors Inc. Takes $69.25 Million Position in HNI Co. (NYSE:HNI)

Pacer Advisors Inc. purchased a new stake in HNI Co. (NYSE:HNI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,374,881 shares of the business services provider’s stock, valued at approximately $69,253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock worth $98,861,000 after purchasing an additional 1,346,999 shares during the period. Barclays PLC boosted its position in HNI by 216.7% during the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock valued at $5,015,000 after acquiring an additional 63,724 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of HNI by 54.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after acquiring an additional 48,237 shares during the period. Intech Investment Management LLC purchased a new stake in shares of HNI during the 3rd quarter worth $2,245,000. Finally, Clifford Capital Partners LLC boosted its position in HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock valued at $13,125,000 after purchasing an additional 37,155 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insider Buying and Selling

In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on 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 directly owns 37,880 shares in the company, valued at approximately $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.36% of the stock is owned by company insiders.

HNI Stock Performance

Shares of HNI stock opened at $51.14 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.44 billion, a PE ratio of 19.82, a PEG ratio of 1.18 and a beta of 0.91. HNI Co. has a 12-month low of $40.22 and a 12-month high of $58.42. The business’s fifty day simple moving average is $52.40 and its 200-day simple moving average is $52.28.

HNI (NYSE:HNI) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Analysts expect that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, November 18th. HNI’s payout ratio is currently 51.16%.

Wall Street Analysts Forecast Growth

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

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.