Inspire Advisors LLC Increases Position in HNI Co. (NYSE:HNI)

Inspire Advisors LLC raised its position in HNI Co. (NYSE:HNI) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,364 shares of the business services provider’s stock after purchasing an additional 1,838 shares during the period. Inspire Advisors LLC owned 0.07% of HNI worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of HNI by 85.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 258 shares during the last quarter. Covestor Ltd increased its position in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 508 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of HNI in the 3rd quarter valued at approximately $84,000. Farther Finance Advisors LLC increased its position in shares of HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Longboard Asset Management LP purchased a new stake in shares of HNI in the 4th quarter valued at approximately $213,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares of the company’s stock, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.36% of the company’s stock.

HNI Trading Down 1.4 %

NYSE HNI opened at $44.38 on Tuesday. 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 firm’s fifty day moving average price is $48.67 and its 200 day moving average price is $51.69. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42.

HNI (NYSE:HNI) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. On average, sell-side analysts expect that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, February 24th. HNI’s dividend payout ratio (DPR) is 45.67%.

Wall Street Analysts Forecast Growth

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

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.