4,443 Shares in HNI Co. (NYSE:HNI) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in HNI Co. (NYSE:HNI) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,443 shares of the business services provider’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently modified their holdings of HNI. Smartleaf Asset Management LLC raised its stake in HNI by 85.1% in the fourth 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 in the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of HNI in the 3rd quarter valued at approximately $181,000. Vestcor Inc bought a new stake in shares of HNI during the 4th quarter worth approximately $176,000. Longboard Asset Management LP acquired a new stake in shares of HNI during the 4th quarter worth approximately $213,000. Finally, Contravisory Investment Management Inc. increased its stake in HNI by 5.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 220 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

HNI Stock Up 0.2 %

HNI stock opened at $44.22 on Thursday. The firm has a 50-day moving average price of $47.52 and a 200-day moving average price of $50.93. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.08 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. HNI had a return on equity of 18.27% and a net margin of 5.52%. The firm had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. As a group, equities research analysts anticipate that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.33 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. HNI’s payout ratio is 45.67%.

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 556 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.37% of the company’s stock.

Analysts Set New Price Targets

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

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.