Grace & White Inc. NY Lowers Position in HNI Co. (NYSE:HNI)

Grace & White Inc. NY decreased its position in shares of HNI Co. (NYSE:HNI) by 36.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,025 shares of the business services provider’s stock after selling 19,489 shares during the period. Grace & White Inc. NY’s holdings in HNI were worth $1,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HNI. Vanguard Group Inc. grew its stake in shares of HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after buying an additional 287,735 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of HNI in the first quarter worth about $4,267,000. Hillsdale Investment Management Inc. bought a new stake in shares of HNI in the first quarter worth about $3,987,000. Jupiter Asset Management Ltd. grew its stake in shares of HNI by 184.7% in the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after purchasing an additional 66,387 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of HNI in the first quarter worth about $2,623,000. 75.26% of the stock is owned by institutional investors.

HNI Stock Performance

Shares of HNI opened at $53.27 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. HNI Co. has a one year low of $32.70 and a one year high of $56.13. The company has a 50-day simple moving average of $52.50 and a two-hundred day simple moving average of $48.19. The firm has a market capitalization of $2.52 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84.

HNI (NYSE:HNI) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The business had revenue of $623.70 million during the quarter, compared to analyst estimates of $637.74 million. During the same period last year, the business posted $0.55 earnings per share. HNI’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is presently 97.78%.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Marshall H. Bridges sold 4,138 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.50, for a total transaction of $221,383.00. Following the sale, the chief financial officer now directly owns 78,346 shares in the company, valued at approximately $4,191,511. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now owns 11,902 shares in the company, valued at $642,708. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,696 shares of company stock valued at $6,136,288. Company insiders own 3.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on HNI shares. Benchmark raised their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 13th.

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.