Systematic Financial Management LP Buys 8,303 Shares of HNI Co. (NYSE:HNI)

Systematic Financial Management LP increased its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,140 shares of the business services provider's stock after purchasing an additional 8,303 shares during the period. Systematic Financial Management LP owned approximately 0.99% of HNI worth $23,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Capital Management LLC acquired a new position in shares of HNI during the 4th quarter worth approximately $2,518,000. ProShare Advisors LLC increased its position in shares of HNI by 3.5% during the 4th quarter. ProShare Advisors LLC now owns 151,484 shares of the business services provider's stock worth $7,630,000 after purchasing an additional 5,087 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $1,357,000 after purchasing an additional 1,221 shares during the last quarter. Janus Henderson Group PLC increased its position 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 purchasing an additional 2,200 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of HNI by 46.3% during the 4th quarter. Gotham Asset Management LLC now owns 14,884 shares of the business services provider's stock worth $750,000 after purchasing an additional 4,712 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on HNI shares. StockNews.com upgraded HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Longbow Research started coverage on HNI in a research note on Friday. They set a "buy" rating and a $70.00 target price for the company. Finally, Susquehanna started coverage on HNI in a research note on Friday. They set a "neutral" rating and a $80.00 target price for the company.

Insider Activity

In other news, insider Brian Scott Smith sold 556 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the sale, the insider now owns 14,394 shares in the company, valued at $718,260.60. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.37% of the company's stock.

HNI Stock Performance

NYSE:HNI opened at $47.94 on Friday. The stock's 50-day simple moving average is $43.53 and its 200 day simple moving average is $48.46. The firm has a market capitalization of $2.23 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. HNI Co. has a twelve month low of $39.76 and a twelve month high of $58.42.

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

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd will be issued a $0.34 dividend. This is an increase from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, May 23rd. HNI's payout ratio is presently 46.98%.

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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