Algert Global LLC Sells 31,294 Shares of HNI Co. (NYSE:HNI)

Algert Global LLC lessened its holdings in HNI Co. (NYSE:HNI) by 59.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,044 shares of the business services provider’s stock after selling 31,294 shares during the quarter. Algert Global LLC’s holdings in HNI were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HNI. SG Americas Securities LLC bought a new stake in shares of HNI in the 3rd quarter worth about $450,000. The Manufacturers Life Insurance Company grew its holdings in shares of HNI by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock worth $1,161,000 after purchasing an additional 1,004 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of HNI in the 2nd quarter worth about $2,148,000. Farther Finance Advisors LLC grew its holdings in shares of HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock worth $117,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of HNI in the 3rd quarter worth about $2,245,000. Institutional investors own 75.26% of the company’s stock.

HNI Stock Down 1.1 %

Shares of NYSE HNI opened at $56.27 on Friday. The firm’s 50-day simple moving average is $53.51 and its 200 day simple moving average is $50.19. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. HNI Co. has a 12-month low of $38.55 and a 12-month high of $58.42.

HNI (NYSE:HNI) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, research analysts expect that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, November 18th. This represents a $1.32 annualized dividend and a yield of 2.35%. HNI’s dividend payout ratio (DPR) is 51.16%.

Insider Buying and Selling

In other HNI news, 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 directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

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.