HNI Co. (NYSE:HNI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in shares of HNI Co. (NYSE:HNI) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,134 shares of the business services provider’s stock after selling 237 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of HNI worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in shares of HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock valued at $101,033,000 after acquiring an additional 20,717 shares during the last quarter. FMR LLC boosted its position in shares of HNI by 275.3% during 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 last quarter. Pacer Advisors Inc. acquired a new position in shares of HNI during the 4th quarter valued at about $69,253,000. Geode Capital Management LLC boosted its position in shares of HNI by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock valued at $58,419,000 after acquiring an additional 7,553 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of HNI by 20.1% during the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock valued at $31,646,000 after acquiring an additional 105,034 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Trading Up 0.3 %

NYSE HNI opened at $46.43 on Friday. The firm’s 50-day moving average is $49.28 and its two-hundred day moving average is $51.89. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The stock has a market capitalization of $2.22 billion, a P/E ratio of 16.07, a PEG ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $657.03 million. On average, sell-side analysts anticipate that HNI Co. will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.84%. HNI’s payout ratio is currently 45.67%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Scott Smith sold 556 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the sale, the insider now owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.36% of the company’s stock.

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.