Edgestream Partners L.P. Acquires 12,497 Shares of HNI Co. (NYSE:HNI)

Edgestream Partners L.P. increased its stake in HNI Co. (NYSE:HNI) by 115.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,283 shares of the business services provider’s stock after buying an additional 12,497 shares during the period. Edgestream Partners L.P.’s holdings in HNI were worth $1,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock worth $28,000 after acquiring an additional 258 shares during the last quarter. Covestor Ltd boosted its stake in HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after purchasing an additional 508 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in HNI during the 3rd quarter valued at about $84,000. Farther Finance Advisors LLC increased its stake in HNI by 4,746.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new position in HNI in the fourth quarter worth about $213,000. Institutional investors own 75.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 556 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.36% of the stock is currently owned by insiders.

HNI Stock Down 0.2 %

HNI stock opened at $44.21 on Wednesday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. HNI Co. has a 1-year low of $40.94 and a 1-year high of $58.42. The business has a fifty day moving average price of $48.55 and a 200-day moving average price of $51.63.

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 analyst estimates of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. Equities analysts forecast that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.99%. The ex-dividend date was Monday, February 24th. HNI’s dividend payout ratio is currently 45.67%.

Analysts Set New Price Targets

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

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.