Royce & Associates LP Reduces Stock Position in HNI Corp (NYSE:HNI)

Royce & Associates LP cut its holdings in HNI Corp (NYSE:HNI) by 99.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,584 shares of the business services provider’s stock after selling 315,601 shares during the period. Royce & Associates LP’s holdings in HNI were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HNI. Aigen Investment Management LP bought a new stake in HNI during the 4th quarter valued at $85,000. Dupont Capital Management Corp raised its stake in shares of HNI by 10.2% during the 3rd quarter. Dupont Capital Management Corp now owns 3,069 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 285 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of HNI during the 3rd quarter valued at $181,000. Fulton Breakefield Broenniman LLC purchased a new stake in HNI during the 4th quarter worth about $206,000. Finally, Man Group plc purchased a new stake in HNI during the 3rd quarter worth about $270,000. Institutional investors and hedge funds own 70.66% of the company’s stock.

NYSE HNI traded down $0.65 on Friday, hitting $39.74. The stock had a trading volume of 196,151 shares, compared to its average volume of 143,051. The firm has a 50-day moving average of $37.60 and a 200-day moving average of $36.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.10. HNI Corp has a 52-week low of $29.90 and a 52-week high of $42.90. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.58 and a beta of 1.20.

HNI (NYSE:HNI) last released its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $616.10 million during the quarter, compared to analyst estimates of $626.24 million. HNI had a net margin of 4.92% and a return on equity of 20.28%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. As a group, research analysts anticipate that HNI Corp will post 2.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 24th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, February 21st. HNI’s dividend payout ratio is 47.10%.

A number of research analysts have weighed in on the company. ValuEngine raised HNI from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. TheStreet upgraded HNI from a “c+” rating to a “b-” rating in a research report on Tuesday, November 5th. Finally, Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “sell” rating in a report on Friday, December 27th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.00.

In other HNI news, Director Miguel M. Calado sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $42.00, for a total value of $84,000.00. Following the sale, the director now owns 46,327 shares of the company’s stock, valued at approximately $1,945,734. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brian E. Stern sold 20,000 shares of HNI stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $39.41, for a total value of $788,200.00. Following the sale, the director now owns 30,905 shares of the company’s stock, valued at approximately $1,217,966.05. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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