HNI Co. (NYSE:HNI) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its position in HNI Co. (NYSE:HNI) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,873 shares of the business services provider’s stock after acquiring an additional 395 shares during the quarter. Graham Capital Management L.P.’s holdings in HNI were worth $850,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HNI. Pacer Advisors Inc. acquired a new position in shares of HNI in the 4th quarter worth approximately $69,253,000. Cerity Partners LLC acquired a new position in HNI during the 4th quarter valued at approximately $8,897,000. Invesco Ltd. boosted its position in HNI by 35.1% during the 4th quarter. Invesco Ltd. now owns 605,964 shares of the business services provider’s stock valued at $30,522,000 after purchasing an additional 157,579 shares during the period. Norges Bank acquired a new position in HNI during the 4th quarter valued at approximately $7,076,000. Finally, FMR LLC boosted its position in HNI by 6.8% during the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider’s stock valued at $98,755,000 after purchasing an additional 124,391 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Trading Down 0.4%

NYSE:HNI opened at $48.72 on Wednesday. HNI Co. has a 12-month low of $39.76 and a 12-month high of $58.42. The firm has a market capitalization of $2.27 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The business has a 50 day simple moving average of $43.34 and a 200 day simple moving average of $48.51.

HNI (NYSE:HNI) last released its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. HNI had a return on equity of 18.27% and a net margin of 5.52%. The business had revenue of $599.80 million during the quarter, compared to analyst estimates of $580.47 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts predict that HNI Co. will post 3.6 EPS for the current year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.33. HNI’s payout ratio is 46.98%.

Insiders Place Their Bets

In other HNI news, insider Brian Scott Smith sold 556 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. The trade was a 3.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

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.