Mirae Asset Global Investments Co. Ltd. Has $881,000 Holdings in HNI Co. (NYSE:HNI)

Mirae Asset Global Investments Co. Ltd. boosted its stake in HNI Co. (NYSE:HNI) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,056 shares of the business services provider’s stock after purchasing an additional 743 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in HNI were worth $881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SG Capital Management LLC acquired a new position in HNI during the third quarter worth about $3,131,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in HNI by 118.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,060 shares of the business services provider’s stock worth $2,599,000 after acquiring an additional 40,661 shares in the last quarter. Vanguard Group Inc. raised its stake in HNI by 0.7% during the third quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock worth $182,728,000 after acquiring an additional 36,988 shares in the last quarter. L2 Asset Management LLC acquired a new position in HNI during the third quarter worth about $1,251,000. Finally, Capula Management Ltd bought a new stake in shares of HNI during the third quarter worth about $1,191,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Insider Activity at HNI

In related news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the sale, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the sale, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vincent P. Berger sold 9,976 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the completion of the sale, the executive vice president now owns 67,025 shares in the company, valued at $2,882,745.25. The disclosure for this sale can be found here. Insiders have sold 17,374 shares of company stock worth $749,534 over the last ninety days. Insiders own 3.36% of the company’s stock.

HNI Stock Performance

NYSE:HNI opened at $43.33 on Wednesday. The stock has a market cap of $2.05 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average is $43.32 and its 200-day moving average is $40.74. HNI Co. has a 1-year low of $24.81 and a 1-year high of $45.47.

HNI (NYSE:HNI) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $686.15 million. HNI had a return on equity of 16.97% and a net margin of 2.03%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. Equities research analysts anticipate that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s payout ratio is presently 125.49%.

HNI Company 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.