Connor Clark & Lunn Investment Management Ltd. Decreases Stake in HNI Co. (NYSE:HNI)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of HNI Co. (NYSE:HNI - Free Report) by 76.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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. owned 0.06% of HNI worth $1,545,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HNI. Segall Bryant & Hamill LLC grew its holdings in HNI by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider's stock worth $753,000 after buying an additional 287 shares in the last quarter. Intech Investment Management LLC purchased a new stake in HNI in the 3rd quarter valued at $2,245,000. Icon Wealth Advisors LLC purchased a new stake in HNI in the 3rd quarter valued at $84,000. FMR LLC raised its position 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. Finally, BNP Paribas Financial Markets raised its position in HNI by 29.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider's stock valued at $1,152,000 after buying an additional 4,911 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Scott Smith sold 556 shares of the firm's 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 completion of the sale, the insider now directly owns 14,394 shares of the company's stock, valued at $718,260.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.37% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, StockNews.com lowered HNI from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 21st.

HNI Stock Down 1.0 %

NYSE HNI traded down $0.46 on Friday, reaching $43.29. The company had a trading volume of 2,404,492 shares, compared to its average volume of 273,407. The stock has a market capitalization of $2.04 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.14 and a beta of 0.90. The company's fifty day moving average is $47.66 and its 200 day moving average is $51.04. HNI Co. has a 52-week low of $40.94 and a 52-week high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI - Get Free Report) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share (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 analyst estimates of $657.03 million. Sell-side analysts anticipate that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. HNI's dividend payout ratio is presently 45.67%.

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.