O Shaughnessy Asset Management LLC Has $1.76 Million Stock Position in HNI Co. (NYSE:HNI)

O Shaughnessy Asset Management LLC grew its holdings in shares of HNI Co. (NYSE:HNI) by 335.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,842 shares of the business services provider’s stock after acquiring an additional 26,840 shares during the period. O Shaughnessy Asset Management LLC owned about 0.07% of HNI worth $1,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HNI. Pacer Advisors Inc. bought a new position in HNI during the 4th quarter worth $69,253,000. Norges Bank acquired a new stake in shares of HNI in the fourth quarter valued at about $7,076,000. Bank of New York Mellon Corp raised its position in shares of HNI by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock worth $31,646,000 after acquiring an additional 105,034 shares during the last quarter. Barclays PLC lifted its stake in shares of HNI by 216.7% in the third quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after acquiring an additional 63,724 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in HNI by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider’s stock valued at $288,016,000 after acquiring an additional 62,476 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at HNI

In related news, insider Brian Scott Smith sold 556 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the sale, the insider now directly owns 14,394 shares of the company’s stock, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.37% of the company’s stock.

HNI Stock Performance

Shares of HNI stock opened at $42.17 on Friday. The company has a market cap of $1.98 billion, a P/E ratio of 14.59, a PEG ratio of 1.14 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $46.47 and a two-hundred day moving average price of $50.56. HNI Co. has a 1-year low of $40.78 and a 1-year high of $58.42.

HNI (NYSE:HNI) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that HNI Co. will post 3.6 EPS for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 annualized dividend and a dividend yield of 3.13%. HNI’s dividend payout ratio is currently 45.67%.

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.