Zurcher Kantonalbank Zurich Cantonalbank Has $1.42 Million Holdings in HNI Co. (NYSE:HNI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in HNI Co. (NYSE:HNI - Free Report) by 165.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,296 shares of the business services provider's stock after purchasing an additional 16,380 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of HNI worth $1,416,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of HNI. Eastern Bank acquired a new position in HNI during the 3rd quarter worth $27,000. Quest Partners LLC acquired a new stake in HNI in the second quarter worth about $29,000. GAMMA Investing LLC grew its position in HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after buying an additional 228 shares in the last quarter. Covestor Ltd increased its stake in HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider's stock valued at $40,000 after buying an additional 508 shares during the period. Finally, Icon Wealth Advisors LLC bought a new stake in shares of HNI during the 3rd quarter worth about $84,000. Institutional investors and hedge funds own 75.26% of the company's stock.

HNI Price Performance

NYSE:HNI traded up $0.34 during mid-day trading on Friday, reaching $56.08. 226,762 shares of the stock were exchanged, compared to its average volume of 256,240. HNI Co. has a 1-year low of $39.44 and a 1-year high of $58.42. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.68 billion, a PE ratio of 21.73, a PEG ratio of 1.62 and a beta of 0.88. The business has a fifty day moving average price of $54.06 and a 200 day moving average price of $50.66.

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

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, November 18th. HNI's payout ratio is 51.16%.

Insider Buying and Selling at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the company'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 transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry B. Porcellato sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now owns 37,880 shares of the company's stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 31st.

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.