Zurcher Kantonalbank Zurich Cantonalbank Has $92,000 Holdings in HNI Corp (HNI)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in HNI Corp (NYSE:HNI) by 15.7% in the first quarter, HoldingsChannel.com reports. The fund owned 2,535 shares of the business services provider’s stock after selling 471 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HNI were worth $92,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its stake in shares of HNI by 250.0% during the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Claybrook Capital LLC purchased a new position in shares of HNI during the 4th quarter valued at approximately $69,000. Investors Research Corp purchased a new position in shares of HNI during the 1st quarter valued at approximately $76,000. Quantamental Technologies LLC purchased a new position in shares of HNI during the 4th quarter valued at approximately $80,000. Finally, Dupont Capital Management Corp purchased a new position in shares of HNI during the 4th quarter valued at approximately $99,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.

In related news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $42.09, for a total transaction of $210,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.



Several equities analysts have recently commented on the company. Sidoti cut HNI from a “buy” rating to a “neutral” rating and reduced their target price for the company from $47.00 to $43.00 in a research note on Tuesday, February 26th. Zacks Investment Research upgraded HNI from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. TheStreet upgraded HNI from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.00.

Shares of HNI stock traded up $0.05 on Friday, hitting $34.47. 283,281 shares of the company’s stock traded hands, compared to its average volume of 198,583. The stock has a market cap of $1.49 billion, a P/E ratio of 14.30 and a beta of 1.28. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. HNI Corp has a 52-week low of $32.99 and a 52-week high of $45.40.

HNI (NYSE:HNI) last released its earnings results on Monday, April 22nd. The business services provider reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $479.50 million during the quarter, compared to analysts’ expectations of $485.33 million. HNI had a return on equity of 18.89% and a net margin of 4.12%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. As a group, equities analysts predict that HNI Corp will post 2.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.305 per share. The ex-dividend date is Thursday, May 16th. This is a boost from HNI’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a yield of 3.54%. HNI’s dividend payout ratio (DPR) is 50.62%.

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HNI Profile

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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Institutional Ownership by Quarter for HNI (NYSE:HNI)

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