Price T Rowe Associates Inc. MD Has $1.86 Million Holdings in HNI Co. (NYSE:HNI)

Price T Rowe Associates Inc. MD lessened its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 54.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,999 shares of the business services provider's stock after selling 44,688 shares during the period. Price T Rowe Associates Inc. MD owned about 0.08% of HNI worth $1,864,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in shares of HNI by 85.1% during the 4th 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 period. Sterling Capital Management LLC boosted its stake in HNI by 649.1% in the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after buying an additional 701 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in HNI in the fourth quarter valued at about $55,000. Meeder Asset Management Inc. bought a new position in HNI in the fourth quarter valued at about $121,000. Finally, Vestcor Inc acquired a new position in HNI during the fourth quarter worth about $176,000. 75.26% of the stock is owned by institutional investors.

HNI Price Performance

HNI stock traded up $0.15 during mid-day trading on Tuesday, reaching $49.06. The company had a trading volume of 51,095 shares, compared to its average volume of 305,211. The business has a fifty day simple moving average of $43.26 and a 200 day simple moving average of $48.51. The company has a market cap of $2.28 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.14 and a beta of 0.91. HNI Co. has a fifty-two week low of $39.76 and a fifty-two week 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.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. The business had revenue of $599.80 million for the quarter, compared to analyst estimates of $580.47 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. HNI's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts predict that HNI Co. will post 3.6 earnings per share for the current year.

HNI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 23rd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.77%. This is a positive change from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio (DPR) is 46.98%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of HNI from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 21st.

Insider Buying and Selling

In related 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 transaction of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares of the company's stock, valued at $718,260.60. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.37% of the stock is owned by corporate insiders.

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.