JPMorgan Chase & Co. Has $9.59 Million Position in HNI Co. (NYSE:HNI)

JPMorgan Chase & Co. grew its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 39.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,425 shares of the business services provider's stock after purchasing an additional 53,502 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of HNI worth $9,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock valued at $28,000 after purchasing an additional 258 shares during the period. Vestcor Inc bought a new position in HNI during the fourth quarter worth $176,000. Longboard Asset Management LP bought a new stake in HNI in the 4th quarter valued at $213,000. Cibc World Markets Corp bought a new stake in shares of HNI in the fourth quarter valued at about $224,000. Finally, Contravisory Investment Management Inc. boosted its stake in HNI by 5.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider's stock worth $227,000 after buying an additional 220 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other HNI news, insider Brian Scott Smith sold 556 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.37% of the company's stock.

HNI Trading Up 0.5 %

HNI stock traded up $0.20 during mid-day trading on Friday, hitting $41.15. The stock had a trading volume of 213,029 shares, compared to its average volume of 300,050. 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 Co. has a 12 month low of $39.76 and a 12 month high of $58.42. The stock has a market capitalization of $1.93 billion, a PE ratio of 14.24, a P/E/G ratio of 1.14 and a beta of 0.78. The stock has a 50-day simple moving average of $44.62 and a two-hundred day simple moving average of $49.63.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. As a group, sell-side analysts forecast that HNI Co. will post 3.6 EPS for the current year.

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, February 24th. HNI's dividend payout ratio is 45.67%.

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.