State Treasurer State of Michigan trimmed its stake in HNI Corp (NYSE:HNI) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,640 shares of the business services provider’s stock after selling 500 shares during the period. State Treasurer State of Michigan’s holdings in HNI were worth $554,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HNI. Dupont Capital Management Corp bought a new position in HNI in the fourth quarter valued at approximately $99,000. State Board of Administration of Florida Retirement System grew its holdings in shares of HNI by 12.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 30,981 shares of the business services provider’s stock worth $1,098,000 after purchasing an additional 3,428 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of HNI by 70.2% during the fourth quarter. Rhumbline Advisers now owns 126,329 shares of the business services provider’s stock worth $4,476,000 after purchasing an additional 52,091 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of HNI by 1.3% during the fourth quarter. Arizona State Retirement System now owns 31,451 shares of the business services provider’s stock worth $1,114,000 after purchasing an additional 396 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of HNI by 5.7% during the fourth quarter. New York State Teachers Retirement System now owns 77,944 shares of the business services provider’s stock worth $2,762,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.
Shares of NYSE HNI traded up $0.09 during trading on Thursday, reaching $41.78. The company had a trading volume of 13,580 shares, compared to its average volume of 168,948. HNI Corp has a 12-month low of $32.55 and a 12-month high of $45.40. The stock has a market cap of $1.83 billion, a P/E ratio of 21.21 and a beta of 1.32. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Monday, February 25th will be paid a $0.295 dividend. The ex-dividend date is Friday, February 22nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.82%. HNI’s dividend payout ratio is currently 59.90%.
In related news, Director Stanley A. Askren sold 54,591 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $37.90, for a total transaction of $2,068,998.90. Following the sale, the director now directly owns 287,287 shares of the company’s stock, valued at $10,888,177.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley A. Askren sold 23,660 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $37.62, for a total value of $890,089.20. Following the sale, the director now directly owns 256,356 shares in the company, valued at $9,644,112.72. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several research analysts have recently commented on the company. TheStreet raised HNI from a “c+” rating to a “b” rating in a report on Friday, February 15th. Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a research note on Friday, October 26th.
HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.
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