Public Sector Pension Investment Board Has $5.38 Million Stock Position in HNI Co. (NYSE:HNI)

Public Sector Pension Investment Board cut its holdings in shares of HNI Co. (NYSE:HNI) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,994 shares of the business services provider’s stock after selling 4,100 shares during the period. Public Sector Pension Investment Board owned about 0.21% of HNI worth $5,384,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of HNI during the 3rd quarter worth $27,000. Quest Partners LLC acquired a new position in HNI during the second quarter worth about $29,000. GAMMA Investing LLC lifted its holdings in shares of HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after acquiring an additional 228 shares during the last quarter. Covestor Ltd boosted its stake in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 508 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in shares of HNI during the 3rd quarter valued at approximately $84,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.36% of the stock is currently owned by insiders.

HNI Trading Up 0.7 %

Shares of HNI stock opened at $56.65 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.71 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.61 and a beta of 0.85. HNI Co. has a twelve month low of $38.63 and a twelve month high of $58.42. The stock’s fifty day simple moving average is $53.65 and its 200 day simple moving average is $50.35.

HNI (NYSE:HNI) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $672.20 million for the quarter, compared to analysts’ expectations of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, sell-side analysts predict that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.33%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

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.