Fmr LLC Buys 124,391 Shares of HNI Co. (NYSE:HNI)

FMR LLC grew its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,960,596 shares of the business services provider's stock after purchasing an additional 124,391 shares during the period. FMR LLC owned approximately 4.10% of HNI worth $98,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of HNI. Vanguard Group Inc. boosted its stake in HNI by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after buying an additional 62,476 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of HNI in the 4th quarter worth approximately $69,253,000. Geode Capital Management LLC lifted its stake in 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 valued at $54,992,000 after purchasing an additional 6,668 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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. Finally, Principal Financial Group Inc. increased its holdings in shares of HNI by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 250,181 shares of the business services provider's stock valued at $12,602,000 after buying an additional 11,716 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

HNI Stock Down 1.6 %

Shares of HNI traded down $0.64 during mid-day trading on Monday, reaching $40.56. The company's stock had a trading volume of 226,992 shares, compared to its average volume of 299,758. HNI Co. has a 1 year low of $39.76 and a 1 year high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The business has a fifty day moving average of $44.47 and a 200 day moving average of $49.52.

HNI (NYSE:HNI - Get Free Report) last released its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $642.50 million for the quarter, compared to analysts' expectations of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. As a group, 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. Shareholders of record on Monday, February 24th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, February 24th. HNI's dividend payout ratio (DPR) is currently 45.67%.

Analysts Set New Price Targets

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

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.37% of the stock is currently owned by company insiders.

HNI 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.