HNI Co. (NYSE:HNI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in HNI Co. (NYSE:HNI) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,134 shares of the business services provider’s stock after selling 237 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in HNI were worth $1,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in HNI by 1.1% in the third 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. FMR LLC boosted its holdings in HNI by 275.3% in the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after purchasing an additional 1,346,999 shares in the last quarter. Pacer Advisors Inc. acquired a new position in HNI in the fourth quarter valued at approximately $69,253,000. Geode Capital Management LLC boosted its holdings in HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock valued at $58,419,000 after purchasing an additional 7,553 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in HNI by 20.1% in the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock valued at $31,646,000 after purchasing an additional 105,034 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the director now owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.36% of the company’s stock.

HNI Price Performance

HNI stock opened at $46.43 on Friday. The company has a market capitalization of $2.22 billion, a P/E ratio of 16.07, a PEG ratio of 1.14 and a beta of 0.90. HNI Co. has a twelve month low of $40.94 and a twelve month high of $58.42. The business has a 50 day simple moving average of $49.28 and a 200-day simple moving average of $51.89. 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 posted 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. The business had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. As a group, equities analysts anticipate that HNI Co. will post 3.6 EPS for the current year.

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 2.84%. The ex-dividend date is Monday, February 24th. HNI’s payout ratio is currently 45.67%.

Wall Street Analysts Forecast Growth

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

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.