Grace & White Inc. NY Cuts Stake in HNI Co. (NYSE:HNI)

Grace & White Inc. NY lowered its position in HNI Co. (NYSE:HNI) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,429 shares of the business services provider’s stock after selling 596 shares during the period. Grace & White Inc. NY owned 0.07% of HNI worth $1,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in HNI in the fourth quarter valued at approximately $69,253,000. FMR LLC raised its stake in shares of HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after acquiring an additional 1,346,999 shares during the period. Barclays PLC lifted its holdings in shares of HNI by 216.7% in the 3rd quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after acquiring an additional 63,724 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of HNI by 54.4% during the 3rd 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. Finally, Intech Investment Management LLC acquired a new position in HNI during the third quarter worth $2,245,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the transaction, the director now owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.36% of the company’s stock.

HNI Stock Down 2.3 %

Shares of HNI opened at $48.24 on Thursday. The company’s 50-day simple moving average is $50.66 and its 200-day simple moving average is $52.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a 1 year low of $40.94 and a 1 year high of $58.42. The stock has a market capitalization of $2.31 billion, a PE ratio of 18.70, a P/E/G ratio of 1.13 and a beta of 0.90.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $0.33 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 2.74%. HNI’s dividend payout ratio is presently 51.16%.

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.