Snowden Capital Advisors LLC Trims Stock Holdings in HNI Co. (NYSE:HNI)

Snowden Capital Advisors LLC decreased its holdings in HNI Co. (NYSE:HNI) by 5.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,774 shares of the business services provider’s stock after selling 697 shares during the period. Snowden Capital Advisors LLC’s holdings in HNI were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of HNI. Barclays PLC increased 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 purchasing an additional 63,724 shares in the last quarter. Inspire Investing LLC boosted its position in shares of HNI by 3.1% in the fourth quarter. Inspire Investing LLC now owns 7,942 shares of the business services provider’s stock valued at $400,000 after acquiring an additional 242 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of HNI in the fourth quarter valued at approximately $238,000. KBC Group NV boosted its position in shares of HNI by 8.7% in the fourth quarter. KBC Group NV now owns 9,684 shares of the business services provider’s stock valued at $488,000 after acquiring an additional 772 shares during the period. Finally, Pacer Advisors Inc. bought a new position in shares of HNI in the fourth quarter valued at approximately $69,253,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analyst Ratings Changes

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

HNI Price Performance

HNI stock opened at $47.23 on Wednesday. The firm has a 50 day moving average of $43.69 and a 200-day moving average of $48.42. 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 Co. has a 12 month low of $39.76 and a 12 month high of $58.42. The firm has a market capitalization of $2.20 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91.

HNI (NYSE:HNI) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $580.47 million. During the same period in the previous year, the business posted $0.37 earnings per share. HNI’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.88%. HNI’s payout ratio is presently 48.40%.

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.