Cibc World Markets Corp Makes New $224,000 Investment in HNI Co. (NYSE:HNI)

Cibc World Markets Corp acquired a new stake in HNI Co. (NYSE:HNI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,443 shares of the business services provider’s stock, valued at approximately $224,000.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC increased its stake in HNI by 275.3% in the 3rd quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after buying an additional 1,346,999 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of HNI by 29.8% in the third quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider’s stock valued at $1,152,000 after acquiring an additional 4,911 shares during the last quarter. Clifford Capital Partners LLC increased its position in shares of HNI by 2.0% in the third quarter. Clifford Capital Partners LLC now owns 297,236 shares of the business services provider’s stock valued at $16,003,000 after acquiring an additional 5,701 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in HNI by 165.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,296 shares of the business services provider’s stock valued at $1,416,000 after purchasing an additional 16,380 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in HNI by 5.7% in the third quarter. Hantz Financial Services Inc. now owns 51,407 shares of the business services provider’s stock valued at $2,768,000 after purchasing an additional 2,790 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insider Buying and Selling at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

HNI Stock Performance

Shares of HNI opened at $44.22 on Thursday. The company has a market cap of $2.08 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. The firm has a 50-day moving average of $47.52 and a 200-day moving average of $50.93. HNI Co. has a one year low of $40.94 and a one 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.

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

HNI Announces Dividend

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

HNI 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.