HNI Co. (NYSE:HNI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in HNI Co. (NYSE:HNI - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,962 shares of the business services provider's stock after selling 20,339 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of HNI worth $7,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HNI. Segall Bryant & Hamill LLC grew its stake in HNI by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider's stock valued at $753,000 after purchasing an additional 287 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of HNI by 8.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,865 shares of the business services provider's stock worth $423,000 after buying an additional 616 shares during the last quarter. Covestor Ltd raised its stake in shares of HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider's stock worth $40,000 after acquiring an additional 508 shares in the last quarter. Summit Global Investments lifted its position in HNI by 2.1% during the third quarter. Summit Global Investments now owns 25,262 shares of the business services provider's stock valued at $1,360,000 after acquiring an additional 522 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in HNI by 1.9% in the third quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider's stock valued at $12,839,000 after acquiring an additional 4,358 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

HNI Stock Performance

HNI stock traded up $0.61 during trading on Friday, reaching $56.17. The company had a trading volume of 391,787 shares, compared to its average volume of 364,636. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. HNI Co. has a twelve month low of $38.55 and a twelve month high of $57.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The firm has a 50-day simple moving average of $53.25 and a 200-day simple moving average of $49.91.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business had revenue of $672.20 million during the quarter, compared to the consensus estimate of $712.75 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that HNI Co. will post 2.93 earnings per share for the current year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, November 18th. HNI's dividend payout ratio is presently 51.16%.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares of the company's stock, valued at $642,708. The trade was a 16.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey D. Lorenger sold 9,447 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.42, for a total value of $504,658.74. Following the sale, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $15,859,970.64. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,030 shares of company stock worth $908,630 over the last three months. 3.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HNI shares. Benchmark upped their price target on HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. StockNews.com raised HNI from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st.

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.