Smartleaf Asset Management LLC Acquires 258 Shares of HNI Co. (NYSE:HNI)

Smartleaf Asset Management LLC raised its holdings in shares of HNI Co. (NYSE:HNI) by 85.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561 shares of the business services provider’s stock after acquiring an additional 258 shares during the quarter. Smartleaf Asset Management LLC’s holdings in HNI were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HNI. Covestor Ltd raised its holdings in HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 508 shares during the period. Icon Wealth Advisors LLC purchased a new position in shares of HNI during the 3rd quarter valued at $84,000. Longboard Asset Management LP purchased a new position in shares of HNI during the 4th quarter valued at $213,000. Contravisory Investment Management Inc. grew its position in shares of HNI by 5.1% during the 4th quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 220 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of HNI during the 4th quarter valued at $238,000. Institutional investors own 75.26% of the company’s stock.

HNI Stock Down 0.3 %

HNI opened at $44.07 on Thursday. The company has a fifty day moving average price of $48.43 and a 200-day moving average price of $51.57. The firm has a market capitalization of $2.07 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. HNI Co. has a one year low of $40.94 and a one year high of $58.42.

HNI (NYSE:HNI) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The company had revenue of $642.50 million during the quarter, compared to analyst estimates of $657.03 million. Equities research analysts expect that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.33 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 3.00%. HNI’s dividend payout ratio (DPR) is presently 45.67%.

Insider Buying and Selling

In related news, insider Brian Scott Smith sold 556 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 14,394 shares in the company, valued at approximately $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

HNI 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.