Frontier Capital Management Co. LLC Lowers Holdings in HNI Corporation (NYSE:HNI)

Frontier Capital Management Co. LLC cut its holdings in HNI Corporation (NYSE:HNI) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,906 shares of the business services provider’s stock after selling 74,880 shares during the period. Frontier Capital Management Co. LLC owned 2.24% of HNI worth $37,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. raised its holdings in shares of HNI by 271.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock worth $108,000 after acquiring an additional 1,900 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of HNI by 18.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock worth $683,000 after acquiring an additional 2,586 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of HNI by 51.8% during the 3rd quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock worth $2,953,000 after acquiring an additional 24,300 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of HNI by 8.9% during the 3rd quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock worth $3,954,000 after acquiring an additional 7,783 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of HNI by 1.2% during the 3rd quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock worth $6,212,000 after acquiring an additional 1,790 shares in the last quarter. 70.88% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the company. Raymond James Financial reissued a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Rowe downgraded HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Finally, Zacks Investment Research raised HNI from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. HNI has a consensus rating of “Hold” and a consensus target price of $42.00.

HNI Corporation (NYSE:HNI) traded down $0.22 during midday trading on Monday, hitting $37.43. The stock had a trading volume of 273,960 shares, compared to its average volume of 213,292. The company has a market cap of $1,635.03, a P/E ratio of 18.44 and a beta of 1.44. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.47. HNI Corporation has a 52-week low of $31.16 and a 52-week high of $48.32.

HNI (NYSE:HNI) last released its earnings results on Thursday, February 8th. The business services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $584.30 million for the quarter, compared to the consensus estimate of $567.83 million. HNI had a return on equity of 17.64% and a net margin of 4.13%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. research analysts expect that HNI Corporation will post 2.49 EPS for the current fiscal year.

In other HNI news, CEO Stanley A. Askren sold 3,032 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $34.62, for a total value of $104,967.84. Following the transaction, the chief executive officer now owns 213,020 shares of the company’s stock, valued at approximately $7,374,752.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stanley A. Askren sold 6,112 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $33.44, for a total value of $204,385.28. Following the completion of the transaction, the chairman now directly owns 218,163 shares in the company, valued at approximately $7,295,370.72. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $1,027,081 in the last ninety days. 5.16% of the stock is currently owned by corporate insiders.

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About HNI

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Institutional Ownership by Quarter for HNI (NYSE:HNI)

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