HNI Co. (NYSE:HNI) Holdings Lowered by Savant Capital LLC

Savant Capital LLC reduced its stake in HNI Co. (NYSE:HNI) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,911 shares of the business services provider’s stock after selling 2,604 shares during the period. Savant Capital LLC’s holdings in HNI were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HNI. SG Capital Management LLC bought a new position in HNI during the 3rd quarter valued at $3,131,000. Sapient Capital LLC bought a new position in shares of HNI during the 4th quarter valued at about $2,515,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in HNI by 118.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,060 shares of the business services provider’s stock worth $2,599,000 after buying an additional 40,661 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of HNI by 0.7% in the third quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock valued at $182,728,000 after buying an additional 36,988 shares in the last quarter. Finally, L2 Asset Management LLC acquired a new stake in shares of HNI during the 3rd quarter valued at $1,251,000. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Benchmark boosted their target price on HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

HNI Trading Up 1.9 %

NYSE:HNI opened at $44.19 on Monday. The stock’s 50-day moving average is $43.29 and its two-hundred day moving average is $41.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.73. The stock has a market cap of $2.09 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.87. HNI Co. has a fifty-two week low of $24.81 and a fifty-two week high of $45.47.

HNI (NYSE:HNI) last issued its earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. HNI had a net margin of 2.57% and a return on equity of 17.75%. The company had revenue of $588.00 million during the quarter, compared to analyst estimates of $574.56 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, equities research analysts forecast that HNI Co. will post 3.1 earnings per share for the current fiscal year.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, February 23rd. HNI’s dividend payout ratio (DPR) is presently 94.81%.

Insider Activity

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the transaction, the director now owns 40,718 shares of the company’s stock, valued at $1,791,592. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mary A. Bell sold 2,898 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $43.13, for a total transaction of $124,990.74. Following the completion of the sale, the director now directly owns 76,183 shares of the company’s stock, valued at approximately $3,285,772.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction on Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the transaction, the director now owns 40,718 shares in the company, valued at approximately $1,791,592. The disclosure for this sale can be found here. Insiders sold a total of 17,374 shares of company stock worth $749,534 in the last three months. 3.36% of the stock is owned by insiders.

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.