Longboard Asset Management LP Acquires Shares of 4,228 HNI Co. (NYSE:HNI)

Longboard Asset Management LP bought a new stake in HNI Co. (NYSE:HNI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,228 shares of the business services provider’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management acquired a new stake in HNI in the fourth quarter valued at about $876,000. State Street Corp lifted its holdings in shares of HNI by 1.1% in 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of HNI in the 3rd quarter valued at approximately $450,000. JPMorgan Chase & Co. grew its holdings in shares of HNI by 54.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after purchasing an additional 48,237 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of HNI by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock valued at $1,161,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

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

HNI Trading Down 4.7 %

Shares of HNI stock opened at $47.49 on Tuesday. HNI Co. has a twelve month low of $40.22 and a twelve month high of $58.42. The stock’s fifty day simple moving average is $51.79 and its 200 day simple moving average is $52.32. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.27 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.15 and a beta of 0.90.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, November 18th. HNI’s dividend payout ratio (DPR) is currently 51.16%.

Insider Activity

In related news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the sale, the director now directly owns 37,880 shares in the company, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.36% of the stock is currently 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.