Franklin Resources Inc. Has $110.99 Million Stake in HNI Co. (NYSE:HNI)

Franklin Resources Inc. trimmed its stake in shares of HNI Co. (NYSE:HNI) by 0.0% during the third quarter, HoldingsChannel reports. The fund owned 2,072,628 shares of the business services provider’s stock after selling 1,007 shares during the period. Franklin Resources Inc.’s holdings in HNI were worth $110,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its holdings in shares of HNI by 1.1% during the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock worth $101,033,000 after acquiring an additional 20,717 shares during the period. FMR LLC grew its position in HNI by 275.3% in the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after purchasing an additional 1,346,999 shares in the last quarter. Dimensional Fund Advisors LP grew its position in HNI by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after purchasing an additional 9,901 shares in the last quarter. Geode Capital Management LLC grew its position in HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock valued at $58,419,000 after purchasing an additional 7,553 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in HNI by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock valued at $25,437,000 after purchasing an additional 17,151 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

HNI Stock Down 0.1 %

HNI stock opened at $53.77 on Monday. The company has a market cap of $2.57 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88. HNI Co. has a 1-year low of $39.95 and a 1-year high of $58.42. The company has a fifty day simple moving average of $54.23 and a 200 day simple moving average of $51.08. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million during the quarter, compared to the consensus estimate of $712.75 million. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts anticipate that HNI Co. will post 2.93 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, November 18th. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insider Activity

In related news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. The trade was a 16.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now directly owns 37,880 shares of the company’s stock, valued at $2,157,266. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.36% of the company’s stock.

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.