HNI Co. (NYSE:HNI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of HNI Co. (NYSE:HNI – Get Rating) by 20.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,443 shares of the business services provider’s stock after buying an additional 1,111 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HNI were worth $183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HNI. Armstrong Advisory Group Inc. bought a new position in HNI in the 4th quarter worth approximately $25,000. Bessemer Group Inc. lifted its position in HNI by 252.7% in the third quarter. Bessemer Group Inc. now owns 963 shares of the business services provider’s stock worth $26,000 after purchasing an additional 690 shares during the period. Point72 Hong Kong Ltd lifted its position in HNI by 89.9% in the second quarter. Point72 Hong Kong Ltd now owns 2,560 shares of the business services provider’s stock worth $89,000 after purchasing an additional 1,212 shares during the period. Royal Bank of Canada lifted its position in HNI by 459.6% in the first quarter. Royal Bank of Canada now owns 2,675 shares of the business services provider’s stock worth $99,000 after purchasing an additional 2,197 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of HNI by 32.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,664 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HNI shares. Sidoti upgraded HNI from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, March 9th. StockNews.com started coverage on HNI in a research report on Thursday, March 16th. They set a “buy” rating for the company.

HNI Price Performance

HNI opened at $25.22 on Friday. HNI Co. has a 12-month low of $24.60 and a 12-month high of $39.44. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.04 billion, a P/E ratio of 8.55 and a beta of 0.92. The stock has a fifty day moving average of $27.18 and a 200-day moving average of $28.66.

HNI (NYSE:HNI – Get Rating) last posted its earnings results on Thursday, February 23rd. The business services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $568.90 million for the quarter, compared to the consensus estimate of $559.22 million. HNI had a net margin of 5.25% and a return on equity of 15.68%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Monday, February 27th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.08%. The ex-dividend date was Friday, February 24th. HNI’s payout ratio is 43.39%.

HNI Company Profile

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HNI Corp. engages in the provision of workplace furnishings and residential building products. It operates through the Workplace Furnishing and Residential Building Products segments. The Workplace Furnishings segment manufactures and markets a broad line of commercial and home office furniture, which includes panel-based and freestanding furniture systems, seating, storage, tables, and architectural products.