First Trust Advisors LP Has $5.95 Million Position in HNI Co. (NYSE:HNI)

First Trust Advisors LP raised its holdings in HNI Co. (NYSE:HNI - Free Report) by 273.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,163 shares of the business services provider's stock after acquiring an additional 86,513 shares during the period. First Trust Advisors LP owned about 0.25% of HNI worth $5,952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of HNI by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after purchasing an additional 62,476 shares in the last quarter. FMR LLC lifted its stake in HNI by 6.8% in the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock valued at $98,755,000 after purchasing an additional 124,391 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in HNI in the fourth quarter valued at approximately $69,253,000. Geode Capital Management LLC grew its stake in shares of HNI by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock worth $54,992,000 after buying an additional 6,668 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 105,034 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.37% of the stock is owned by corporate insiders.

HNI Trading Down 0.5 %

Shares of NYSE:HNI traded down $0.21 during midday trading on Tuesday, hitting $42.96. 17,388 shares of the stock were exchanged, compared to its average volume of 297,448. The business's 50-day moving average price is $43.22 and its 200 day moving average price is $48.73. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.14 and a beta of 0.92. HNI Co. has a 12 month low of $39.76 and a 12 month high of $58.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10.

HNI (NYSE:HNI - Get Free Report) last posted 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 firm had revenue of $642.50 million for the quarter, compared to analyst estimates of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. Analysts predict that HNI Co. will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.33 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 3.07%. HNI's payout ratio is 45.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded 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.