Ritholtz Wealth Management Invests $876,000 in HNI Co. (NYSE:HNI)

Ritholtz Wealth Management acquired a new stake in shares of HNI Co. (NYSE:HNI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,386 shares of the business services provider’s stock, valued at approximately $876,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HNI. Hennion & Walsh Asset Management Inc. boosted its position in shares of HNI by 21.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,916 shares of the business services provider’s stock valued at $852,000 after acquiring an additional 2,980 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in HNI by 5.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 220 shares during the last quarter. Diversified Trust Co grew its stake in HNI by 72.0% in the 4th quarter. Diversified Trust Co now owns 8,653 shares of the business services provider’s stock worth $436,000 after buying an additional 3,623 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of HNI by 6.2% in the 4th quarter. Nordea Investment Management AB now owns 120,029 shares of the business services provider’s stock worth $6,065,000 after buying an additional 7,023 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of HNI by 54.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after buying an additional 48,237 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

HNI Stock Performance

NYSE:HNI opened at $50.81 on Monday. HNI Co. has a 1-year low of $39.96 and a 1-year high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. The business has a 50 day moving average of $52.95 and a 200 day moving average of $52.03. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.07 and a beta of 0.91.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The firm’s 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, sell-side analysts predict that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Monday, November 18th. HNI’s dividend payout ratio is presently 51.16%.

Analysts Set New Price Targets

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 HNI news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 37,880 shares of the company’s stock, valued at $2,157,266. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.36% of the stock is owned by corporate insiders.

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.