Nisa Investment Advisors LLC Decreases Holdings in HNI Co. (NYSE:HNI)

Nisa Investment Advisors LLC cut its holdings in shares of HNI Co. (NYSE:HNI) by 11.7% in the 4th quarter, HoldingsChannel reports. The firm owned 26,340 shares of the business services provider’s stock after selling 3,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in HNI were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of HNI by 1,015.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,104 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,005 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of HNI during the 3rd quarter valued at $56,000. Qube Research & Technologies Ltd purchased a new stake in HNI in the 3rd quarter worth about $71,000. Point72 Hong Kong Ltd increased its holdings in HNI by 89.9% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,560 shares of the business services provider’s stock worth $89,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in HNI by 459.6% in the 1st quarter. Royal Bank of Canada now owns 2,675 shares of the business services provider’s stock worth $99,000 after acquiring an additional 2,197 shares during the last quarter. 75.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

HNI Trading Down 1.4 %

Shares of HNI opened at $41.53 on Tuesday. The business has a 50-day moving average of $43.34 and a 200 day moving average of $40.49. HNI Co. has a fifty-two week low of $24.81 and a fifty-two week high of $45.47. The firm has a market cap of $1.96 billion, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. 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 (NYSE:HNI) last announced its quarterly earnings data 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. HNI had a return on equity of 16.97% and a net margin of 2.03%. The company had revenue of $679.80 million during the quarter, compared to analyst estimates of $686.15 million. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts forecast that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were paid a $0.32 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.28 annualized dividend and a yield of 3.08%. HNI’s dividend payout ratio is currently 125.49%.

Insiders Place Their Bets

In other HNI news, Director Miguel M. Calado sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the transaction, the director now owns 36,988 shares in the company, valued at approximately $1,590,114.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HNI news, Director Miguel M. Calado sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the transaction, the director now owns 36,988 shares in the company, valued at approximately $1,590,114.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vincent P. Berger sold 9,976 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $43.01, for a total value of $429,067.76. Following the completion of the transaction, the executive vice president now owns 67,025 shares of the company’s stock, valued at approximately $2,882,745.25. The disclosure for this sale can be found here. Insiders sold a total of 17,374 shares of company stock worth $749,534 in the last quarter. 3.36% of the stock is owned by company insiders.

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.