HNI Co. (NYSE:HNI) Stake Lessened by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,544 shares of the business services provider's stock after selling 12,660 shares during the quarter. State of Tennessee Department of Treasury's holdings in HNI were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in HNI by 205.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,670 shares of the business services provider's stock worth $185,000 after purchasing an additional 2,470 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of HNI by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 28,702 shares of the business services provider's stock worth $1,446,000 after buying an additional 1,564 shares during the period. Dimensional Fund Advisors LP boosted its holdings in HNI by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock valued at $81,786,000 after acquiring an additional 43,249 shares during the last quarter. First Trust Advisors LP increased its stake in HNI by 273.3% during the fourth quarter. First Trust Advisors LP now owns 118,163 shares of the business services provider's stock worth $5,952,000 after acquiring an additional 86,513 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of HNI by 803.1% in the 4th quarter. Mariner LLC now owns 102,259 shares of the business services provider's stock worth $5,151,000 after purchasing an additional 90,936 shares during the period. Hedge funds and other institutional investors own 75.26% of the company's stock.

Insider Activity at HNI

In other HNI 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 completion of the transaction, the insider now directly owns 14,394 shares of the company's stock, valued at $718,260.60. This represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.37% of the company's stock.

HNI Stock Up 0.4 %

Shares of NYSE:HNI traded up $0.17 during midday trading on Tuesday, hitting $43.34. 199,046 shares of the company's stock traded hands, compared to its average volume of 342,878. The firm's fifty day moving average price is $43.22 and its two-hundred day moving average price is $48.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42. The company has a market cap of $2.04 billion, a PE ratio of 14.94, a P/E/G ratio of 1.14 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. The company 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%. On average, equities research analysts anticipate that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given 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 3.05%. HNI's payout ratio is currently 45.67%.

Analyst Upgrades and Downgrades

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

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.