SG Capital Management LLC Purchases Shares of 50,000 HNI Co. (NYSE:HNI)

SG Capital Management LLC acquired a new position in HNI Co. (NYSE:HNI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 50,000 shares of the business services provider's stock, valued at approximately $2,518,000. SG Capital Management LLC owned about 0.10% of HNI at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. ProShare Advisors LLC boosted its holdings in HNI by 3.5% during the fourth quarter. ProShare Advisors LLC now owns 151,484 shares of the business services provider's stock worth $7,630,000 after buying an additional 5,087 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of HNI by 4.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,949 shares of the business services provider's stock valued at $1,357,000 after acquiring an additional 1,221 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of HNI by 12.0% during the 4th quarter. Janus Henderson Group PLC now owns 20,574 shares of the business services provider's stock worth $1,036,000 after acquiring an additional 2,200 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of HNI by 46.3% in the 4th quarter. Gotham Asset Management LLC now owns 14,884 shares of the business services provider's stock worth $750,000 after acquiring an additional 4,712 shares during the last quarter. Finally, Graham Capital Management L.P. raised its position in shares of HNI by 2.4% during the fourth quarter. Graham Capital Management L.P. now owns 16,873 shares of the business services provider's stock worth $850,000 after purchasing an additional 395 shares during the period. 75.26% of the stock is currently owned by institutional investors.

HNI Stock Up 0.6%

HNI stock opened at $47.71 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The firm has a market capitalization of $2.22 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.14 and a beta of 0.91. HNI Co. has a 52-week low of $39.76 and a 52-week high of $58.42. The company's 50 day simple moving average is $43.46 and its 200-day simple moving average is $48.47.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. As a group, equities research analysts anticipate that HNI Co. will post 3.6 EPS 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 paid a $0.34 dividend. This is an increase from HNI's previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, May 23rd. HNI's dividend payout ratio is currently 46.98%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 556 shares of the company's stock in a transaction dated 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 in the company, valued at $718,260.60. This 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 link. Corporate insiders own 3.37% of the company's stock.

About HNI

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.

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