State of Tennessee Department of Treasury Sells 12,660 Shares of HNI Co. (NYSE:HNI)

State of Tennessee Department of Treasury trimmed its position in shares of HNI Co. (NYSE:HNI - Free Report) by 37.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,544 shares of the business services provider's stock after selling 12,660 shares during the period. State of Tennessee Department of Treasury's holdings in HNI were worth $1,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HNI. Vanguard Group Inc. lifted its stake in shares of HNI by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after buying an additional 62,476 shares during the period. FMR LLC lifted its position in shares of HNI by 6.8% in the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock worth $98,755,000 after acquiring an additional 124,391 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of HNI by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock worth $81,786,000 after purchasing an additional 43,249 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of HNI during the fourth quarter valued at approximately $69,253,000. Finally, Geode Capital Management LLC raised its stake in shares of HNI by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock valued at $54,992,000 after purchasing an additional 6,668 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

HNI Price Performance

NYSE HNI traded up $0.25 during trading on Wednesday, reaching $43.69. 134,241 shares of the company traded hands, compared to its average volume of 299,202. HNI Co. has a 1-year low of $39.76 and a 1-year high of $58.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. The stock's 50 day moving average price is $43.17 and its two-hundred day moving average price is $48.69. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.14 and a beta of 0.92.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. HNI had a return on equity of 18.27% and a net margin of 5.52%. During the same quarter last year, the company earned $0.37 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts anticipate that HNI Co. will post 3.6 EPS for the current 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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, February 24th. HNI's dividend payout ratio (DPR) is currently 45.67%.

Insider Transactions at HNI

In related 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 transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 3.37% of the stock is owned by company insiders.

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.