HNI Co. (NYSE:HNI) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC trimmed its position in HNI Co. (NYSE:HNI) by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,613 shares of the business services provider’s stock after selling 826 shares during the period. Gallacher Capital Management LLC’s holdings in HNI were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HNI. Pacer Advisors Inc. acquired a new stake in shares of HNI during the 4th quarter valued at approximately $69,253,000. FMR LLC raised its holdings in shares of HNI by 275.3% during the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock worth $98,861,000 after purchasing an additional 1,346,999 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of HNI by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock worth $31,646,000 after purchasing an additional 105,034 shares during the period. Barclays PLC raised its stake in HNI by 216.7% during the third quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after acquiring an additional 63,724 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in HNI by 54.4% during the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock worth $7,372,000 after acquiring an additional 48,237 shares during the period. 75.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

HNI Price Performance

Shares of NYSE HNI opened at $43.59 on Friday. HNI Co. has a 1-year low of $40.94 and a 1-year high of $58.42. 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’s fifty day moving average price is $48.07 and its two-hundred day moving average price is $51.38. The firm has a market capitalization of $2.05 billion, a PE ratio of 15.08, a P/E/G ratio of 1.14 and a beta of 0.90.

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

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.32 annualized dividend and a dividend yield of 3.03%. HNI’s payout ratio is currently 45.67%.

Insider Activity at HNI

In related news, insider Brian Scott Smith sold 556 shares of the firm’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 sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.36% of the stock is owned by 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.