Marshall Wace LLP Reduces Stock Position in HNI Co. (NYSE:HNI)

Marshall Wace LLP decreased its position in shares of HNI Co. (NYSE:HNI - Free Report) by 66.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,901 shares of the business services provider's stock after selling 17,534 shares during the period. Marshall Wace LLP's holdings in HNI were worth $448,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position 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 buying an additional 258 shares during the period. Sterling Capital Management LLC lifted its holdings in HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock worth $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 worth about $55,000. Meeder Asset Management Inc. bought a new stake in HNI during the 4th quarter worth about $121,000. Finally, Vestcor Inc acquired a new stake in shares of HNI during the fourth quarter worth $176,000. 75.26% of the stock is owned by institutional investors.

HNI Price Performance

NYSE:HNI traded up $0.32 during trading hours on Friday, reaching $46.58. 78,350 shares of the company were exchanged, compared to its average volume of 302,575. The business has a 50 day moving average of $43.12 and a 200 day moving average of $48.61. The company has a market capitalization of $2.19 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. HNI Co. has a 1-year low of $39.76 and a 1-year high of $58.42.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. HNI had a net margin of 5.52% and a return on equity of 18.27%. The firm had revenue of $599.80 million during the quarter, compared to analysts' expectations of $580.47 million. During the same period in the prior year, the company posted $0.37 EPS. The company's revenue was up 2.0% on a year-over-year basis. Research analysts forecast that HNI Co. will post 3.6 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.83%. HNI's payout ratio is 45.67%.

Wall Street Analysts Forecast Growth

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 stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now owns 14,394 shares of the company's stock, valued at $718,260.60. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.37% of the company's stock.

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.