HNI Co. (NYSE:HNI) Stake Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of HNI Co. (NYSE:HNI) by 76.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,679 shares of the business services provider’s stock after selling 100,283 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in HNI were worth $1,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of HNI during the fourth quarter valued at approximately $69,253,000. FMR LLC raised its stake in HNI by 275.3% during the 3rd 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 during the period. Bank of New York Mellon Corp lifted its holdings in shares of HNI by 20.1% in the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock valued at $31,646,000 after purchasing an additional 105,034 shares in the last quarter. Barclays PLC boosted its position in shares of HNI by 216.7% in the third quarter. Barclays PLC now owns 93,131 shares of the business services provider’s stock worth $5,015,000 after buying an additional 63,724 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of HNI by 54.4% during the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock valued at $7,372,000 after buying an additional 48,237 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Stock Performance

HNI stock opened at $43.85 on Thursday. The firm has a 50 day simple moving average of $47.89 and a 200 day simple moving average of $51.23. HNI Co. has a 52 week low of $40.94 and a 52 week high of $58.42. The stock has a market cap of $2.06 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10.

HNI (NYSE:HNI) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $642.50 million during the quarter, compared to analyst estimates of $657.03 million. Research analysts anticipate that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, February 24th. HNI’s payout ratio is currently 45.67%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Brian Scott Smith sold 556 shares of the business’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 completion of the sale, the insider now owns 14,394 shares of the company’s stock, valued at approximately $718,260.60. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.