Wells Fargo & Company MN Raises Position in HNI Co. (NYSE:HNI)

Wells Fargo & Company MN lifted its stake in HNI Co. (NYSE:HNI - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,509 shares of the business services provider's stock after buying an additional 6,497 shares during the period. Wells Fargo & Company MN owned about 0.07% of HNI worth $1,738,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Barclays PLC grew its stake in shares of HNI by 216.7% in the third quarter. Barclays PLC now owns 93,131 shares of the business services provider's stock valued at $5,015,000 after acquiring an additional 63,724 shares in the last quarter. Principal Financial Group Inc. raised its holdings in HNI by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider's stock valued at $12,839,000 after acquiring an additional 4,358 shares in the last quarter. JPMorgan Chase & Co. lifted its position in HNI by 54.4% during the third 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 during the period. Nordea Investment Management AB grew its stake in HNI by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 120,029 shares of the business services provider's stock worth $6,065,000 after buying an additional 7,023 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of HNI by 72.0% in the 4th quarter. Diversified Trust Co now owns 8,653 shares of the business services provider's stock valued at $436,000 after buying an additional 3,623 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

HNI Price Performance

Shares of HNI stock traded up $0.27 on Thursday, hitting $42.57. 21,946 shares of the company traded hands, compared to its average volume of 297,791. HNI Co. has a 12-month low of $39.76 and a 12-month high of $58.42. The firm's 50-day simple moving average is $43.46 and its 200 day simple moving average is $49.05. The company has a market cap of $2.00 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.14 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

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

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders 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 yield of 3.10%. HNI's dividend payout ratio is presently 45.67%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Brian Scott Smith sold 556 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 approximately $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 can be accessed through this link. Company insiders own 3.37% of the company's stock.

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.