HNI Co. (NYSE:HNI) Stock Holdings Trimmed by Summit Global Investments

Summit Global Investments lowered its holdings in shares of HNI Co. (NYSE:HNI) by 36.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,977 shares of the business services provider’s stock after selling 9,285 shares during the period. Summit Global Investments’ holdings in HNI were worth $805,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Xponance Inc. acquired a new position in shares of HNI during the 4th quarter valued at $249,000. Cibc World Markets Corp acquired a new stake in shares of HNI in the fourth quarter worth $224,000. Royce & Associates LP acquired a new stake in shares of HNI in the fourth quarter worth $395,000. Natixis Advisors LLC acquired a new stake in shares of HNI in the fourth quarter worth $745,000. Finally, Vestcor Inc acquired a new stake in HNI during the fourth quarter valued at $176,000. Institutional investors own 75.26% of the company’s stock.

Insiders Place Their Bets

In other HNI 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 owns 14,394 shares of the company’s stock, valued at $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

HNI Price Performance

HNI opened at $43.29 on Monday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 1.14 and a beta of 0.90. HNI Co. has a 1 year low of $40.94 and a 1 year high of $58.42. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $47.66 and a 200 day moving average price of $51.03.

HNI (NYSE:HNI) last announced its quarterly 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. HNI had a return on equity of 18.27% and a net margin of 5.52%. The company had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. Analysts forecast that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.05%. HNI’s dividend payout ratio is currently 45.67%.

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.