Connor Clark & Lunn Investment Management Ltd. Has $7.05 Million Stock Holdings in HNI Co. (NYSE:HNI)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in HNI Co. (NYSE:HNI) by 13.4% during the third quarter, HoldingsChannel.com reports. The firm 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.’s holdings in HNI were worth $7,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in HNI by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after purchasing an additional 287,735 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of HNI by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after acquiring an additional 9,901 shares during the period. Bank of New York Mellon Corp boosted its stake in HNI by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock worth $25,437,000 after acquiring an additional 17,151 shares during the last quarter. Clifford Capital Partners LLC grew its holdings in HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock valued at $13,125,000 after purchasing an additional 37,155 shares during the period. Finally, Principal Financial Group Inc. increased 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 purchasing an additional 4,358 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Miguel M. Calado sold 5,299 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now owns 31,159 shares of the company’s stock, valued at $1,650,180.64. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,030 shares of company stock worth $908,630. 3.36% of the stock is owned by corporate insiders.

HNI Stock Performance

Shares of HNI stock opened at $56.17 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI Co. has a 52 week low of $38.55 and a 52 week high of $57.59. The company’s 50 day moving average price is $53.16 and its two-hundred day moving average price is $49.83. The company has a market capitalization of $2.69 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 1.56 and a beta of 0.85.

HNI (NYSE:HNI) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $0.93 earnings per share. On average, 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 will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. HNI’s dividend payout ratio is currently 51.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Benchmark lifted their price target on shares of 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 note on Thursday, October 31st.

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.