HNI Co. (NYSE:HNI) Shares Sold by Arjuna Capital

Arjuna Capital cut its stake in HNI Co. (NYSE:HNI) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,840 shares of the business services provider’s stock after selling 1,071 shares during the period. Arjuna Capital owned 0.07% of HNI worth $1,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in shares of HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock worth $28,000 after buying an additional 258 shares during the last quarter. Covestor Ltd increased its position 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 acquiring an additional 508 shares during the period. Icon Wealth Advisors LLC purchased a new position in HNI in the 3rd quarter worth $84,000. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 2,136 shares during the period. Finally, Longboard Asset Management LP purchased a new stake in HNI during the 4th quarter valued at about $213,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st.

HNI Stock Up 0.5 %

HNI stock opened at $45.07 on Friday. The company has a market capitalization of $2.12 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The firm’s fifty day simple moving average is $48.79 and its 200-day simple moving average is $51.73. 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 (NYSE:HNI) last posted its quarterly earnings results 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. The company had revenue of $642.50 million for the quarter, compared to analyst estimates of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. As a group, equities research analysts forecast that HNI Co. will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Monday, February 24th. HNI’s dividend payout ratio is currently 45.67%.

Insider Buying and Selling at HNI

In other news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares of the company’s stock, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.36% of the stock is currently owned by corporate insiders.

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.