HNI Co. (NYSE:HNI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of HNI Co. (NYSE:HNI) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,722,641 shares of the business services provider’s stock after selling 349,987 shares during the period. Franklin Resources Inc.’s holdings in HNI were worth $86,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of HNI by 85.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock worth $28,000 after purchasing an additional 258 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in HNI during the 4th quarter worth approximately $121,000. Vestcor Inc acquired a new stake in HNI during the 4th quarter worth approximately $176,000. Longboard Asset Management LP acquired a new position in shares of HNI in the fourth quarter worth $213,000. Finally, Cibc World Markets Corp purchased a new stake in shares of HNI during the fourth quarter worth $224,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, February 21st.

HNI Stock Up 1.4 %

Shares of NYSE:HNI opened at $45.39 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. HNI Co. has a fifty-two week low of $40.94 and a fifty-two week high of $58.42. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The firm’s 50 day moving average price is $46.80 and its 200 day moving average price is $50.69.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. As a group, equities research analysts predict that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 annualized dividend and a dividend yield of 2.91%. HNI’s dividend payout ratio is currently 45.67%.

Insider Activity

In related news, insider Brian Scott Smith sold 556 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares of the company’s stock, valued at $718,260.60. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.37% of the company’s stock.

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.