Geode Capital Management LLC Buys 7,553 Shares of HNI Co. (NYSE:HNI)

Geode Capital Management LLC raised its stake in shares of HNI Co. (NYSE:HNI) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,084,830 shares of the business services provider’s stock after purchasing an additional 7,553 shares during the period. Geode Capital Management LLC owned 2.27% of HNI worth $58,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of HNI in the third quarter valued at $27,000. Quest Partners LLC purchased a new position in shares of HNI in the 2nd quarter worth $29,000. GAMMA Investing LLC increased its holdings in shares of HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after buying an additional 228 shares during the last quarter. Covestor Ltd increased its holdings in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after buying an additional 508 shares during the last quarter. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of HNI during the 3rd quarter valued at about $84,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now directly owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value 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 16.10 % decrease in their position. The disclosure for this sale can be found here. 3.36% of the stock is owned by corporate insiders.

HNI Stock Up 1.4 %

Shares of HNI opened at $51.63 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $54.17 and a 200 day moving average of $51.29. The company has a market cap of $2.47 billion, a PE ratio of 20.01, a P/E/G ratio of 1.55 and a beta of 0.88. HNI Co. has a 52-week low of $39.95 and a 52-week high of $58.42.

HNI (NYSE:HNI) last released its 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 firm had revenue of $672.20 million during the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. On average, sell-side analysts expect that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $0.33 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. HNI’s payout ratio is 51.16%.

About HNI

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.