Flagship Harbor Advisors LLC Takes Position in HNI Co. (NYSE:HNI)

Flagship Harbor Advisors LLC bought a new position in HNI Co. (NYSE:HNI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,724 shares of the business services provider’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently bought and sold shares of the business. Eastern Bank acquired a new stake in shares of HNI during the 3rd quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in HNI by 51.6% during the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 228 shares in the last quarter. Covestor Ltd grew its stake in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 508 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of HNI in the 3rd quarter worth approximately $84,000. Finally, Farther Finance Advisors LLC lifted its position in shares of HNI by 4,746.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock worth $117,000 after buying an additional 2,136 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

Insider Activity

In other news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now directly owns 37,880 shares of the company’s stock, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.36% of the stock is currently owned by corporate insiders.

HNI Price Performance

NYSE:HNI opened at $50.21 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.40 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.91. HNI Co. has a 12 month low of $40.22 and a 12 month high of $58.42. The company’s 50-day moving average price is $52.22 and its two-hundred day moving average price is $52.28.

HNI (NYSE:HNI) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. During the same period in the previous year, the business earned $0.93 EPS. HNI’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, November 18th. HNI’s payout ratio is presently 51.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

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.