HNI Co. (NYSE:HNI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in HNI Co. (NYSE:HNI) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,708 shares of the business services provider’s stock after selling 828 shares during the quarter. Rhumbline Advisers’ holdings in HNI were worth $5,930,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of HNI by 85.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 258 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 701 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of HNI in the 4th quarter valued at about $55,000. Meeder Asset Management Inc. acquired a new stake in shares of HNI in the 4th quarter valued at about $121,000. Finally, Vestcor Inc acquired a new stake in shares of HNI in the 4th quarter valued at about $176,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Price Performance

Shares of NYSE:HNI opened at $47.78 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. HNI Co. has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The firm has a 50-day simple moving average of $44.71 and a 200 day simple moving average of $47.52. The company has a market cap of $2.22 billion, a PE ratio of 16.53, a P/E/G ratio of 1.14 and a beta of 0.93.

HNI (NYSE:HNI) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that HNI Co. will post 3.6 EPS for the current year.

HNI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were given a $0.34 dividend. This is a boost from HNI’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 2.85%. HNI’s dividend payout ratio is 48.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Longbow Research assumed coverage on shares of HNI in a research report on Friday, May 16th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Susquehanna assumed coverage on shares of HNI in a research report on Friday, May 16th. They set a “neutral” rating and a $80.00 price objective for the company.

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.