HNI Co. (NYSE:HNI) Stock Position Lifted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC raised its position in shares of HNI Co. (NYSE:HNI - Free Report) by 335.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,842 shares of the business services provider's stock after purchasing an additional 26,840 shares during the period. O Shaughnessy Asset Management LLC owned 0.07% of HNI worth $1,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management bought a new stake in shares of HNI during the 4th quarter worth about $876,000. State Street Corp raised its position in shares of HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider's stock worth $101,033,000 after buying an additional 20,717 shares in the last quarter. Vanguard Group Inc. raised its position in shares of HNI by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock worth $288,016,000 after buying an additional 62,476 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of HNI by 4.9% in the 4th 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. Finally, JPMorgan Chase & Co. raised its holdings in shares of HNI by 54.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider's stock worth $7,372,000 after purchasing an additional 48,237 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brian Scott Smith sold 556 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares of the company's stock, valued at approximately $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.37% of the stock is owned by company insiders.

Analyst Ratings Changes

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

HNI Price Performance

Shares of NYSE HNI traded down $1.30 during midday trading on Thursday, reaching $41.95. The company's stock had a trading volume of 32,643 shares, compared to its average volume of 296,013. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $45.59 and a 200 day moving average price of $50.18. HNI Co. has a one year low of $39.76 and a one year high of $58.42. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million for the quarter, compared to analyst estimates of $657.03 million. On average, equities research analysts expect that HNI Co. will post 3.6 EPS for the current year.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued 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 3.15%. HNI's dividend payout ratio is currently 45.67%.

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.