New York State Teachers Retirement System Raises Stock Position in HNI Co. (NYSE:HNI)

New York State Teachers Retirement System increased its holdings in shares of HNI Co. (NYSE:HNI) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 85,937 shares of the business services provider’s stock after acquiring an additional 3,027 shares during the quarter. New York State Teachers Retirement System’s holdings in HNI were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Snowden Capital Advisors LLC raised its holdings in shares of HNI by 3.4% during the second quarter. Snowden Capital Advisors LLC now owns 11,609 shares of the business services provider’s stock worth $327,000 after purchasing an additional 387 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in HNI by 12.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,781 shares of the business services provider’s stock valued at $107,000 after buying an additional 416 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in HNI by 1.8% in the third quarter. Teacher Retirement System of Texas now owns 28,698 shares of the business services provider’s stock valued at $994,000 after buying an additional 521 shares in the last quarter. Osaic Holdings Inc. increased its holdings in HNI by 11.5% in the second quarter. Osaic Holdings Inc. now owns 5,536 shares of the business services provider’s stock valued at $156,000 after buying an additional 570 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in HNI by 7.9% in the third quarter. PNC Financial Services Group Inc. now owns 8,029 shares of the business services provider’s stock valued at $278,000 after buying an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI Stock Down 0.2 %

HNI opened at $42.13 on Monday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.20 and a beta of 0.86. The company has a fifty day moving average of $43.32 and a two-hundred day moving average of $40.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.73 and a current ratio of 1.16. HNI Co. has a fifty-two week low of $24.81 and a fifty-two week high of $45.47.

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

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.28 annualized dividend and a yield of 3.04%. HNI’s payout ratio is 125.49%.

Insider Buying and Selling at HNI

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total value of $88,000.00. Following the transaction, the director now directly owns 40,718 shares in the company, valued at approximately $1,791,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other HNI news, Director Mary A. Bell sold 2,898 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $43.13, for a total value of $124,990.74. Following the transaction, the director now directly owns 76,183 shares in the company, valued at approximately $3,285,772.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the transaction, the director now owns 40,718 shares in the company, valued at $1,791,592. The disclosure for this sale can be found here. Insiders have sold 17,374 shares of company stock worth $749,534 in the last ninety days. 3.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.