Invesco Ltd. Buys 157,579 Shares of HNI Co. (NYSE:HNI)

Invesco Ltd. increased its position in shares of HNI Co. (NYSE:HNI - Free Report) by 35.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 605,964 shares of the business services provider's stock after buying an additional 157,579 shares during the period. Invesco Ltd. owned 1.27% of HNI worth $30,522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HNI. Ritholtz Wealth Management bought a new position in shares of HNI in the 4th quarter worth about $876,000. Vanguard Group Inc. grew 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 worth $288,016,000 after purchasing an additional 62,476 shares during the period. Principal Financial Group Inc. increased its holdings in HNI by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 250,181 shares of the business services provider's stock worth $12,602,000 after purchasing an additional 11,716 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in HNI by 54.4% in the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider's stock valued at $7,372,000 after buying an additional 48,237 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of HNI by 20.1% during the 4th 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 and hedge funds own 75.26% of the company's stock.

HNI Stock Up 2.5 %

Shares of NYSE HNI traded up $1.04 during trading on Wednesday, hitting $42.23. 22,293 shares of the company traded hands, compared to its average volume of 356,355. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. The business's fifty day moving average is $44.47 and its 200 day moving average is $49.52. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.14 and a beta of 0.78. HNI Co. has a fifty-two week low of $39.76 and a fifty-two week high of $58.42.

HNI (NYSE:HNI - Get Free Report) last posted 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 business had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. Equities research analysts predict that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, February 24th. HNI's payout ratio is currently 45.67%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at HNI

In related news, insider Brian Scott Smith sold 556 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the sale, the insider now owns 14,394 shares in the company, valued at $718,260.60. This represents a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.37% of the stock is currently owned by company 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.