Cetera Investment Advisers Trims Stock Holdings in HNI Co. (NYSE:HNI)

Cetera Investment Advisers decreased its position in shares of HNI Co. (NYSE:HNI) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,439 shares of the business services provider’s stock after selling 398 shares during the period. Cetera Investment Advisers’ holdings in HNI were worth $677,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lido Advisors LLC increased its position in shares of HNI by 21.0% in the 4th quarter. Lido Advisors LLC now owns 8,379 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 1,453 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in HNI in the 4th quarter valued at $887,000. Voya Investment Management LLC lifted its position in HNI by 25.8% in the fourth quarter. Voya Investment Management LLC now owns 25,900 shares of the business services provider’s stock valued at $1,305,000 after purchasing an additional 5,305 shares during the period. Adage Capital Partners GP L.L.C. raised its position in HNI by 33.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 444,000 shares of the business services provider’s stock worth $22,364,000 after acquiring an additional 111,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in HNI by 205.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,670 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 2,470 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Stock Performance

Shares of HNI opened at $45.56 on Monday. HNI Co. has a 52-week low of $39.76 and a 52-week high of $58.42. The firm has a market capitalization of $2.12 billion, a PE ratio of 15.77, a P/E/G ratio of 1.14 and a beta of 0.91. The firm has a 50-day moving average price of $43.83 and a 200 day moving average price of $48.24. 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) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. HNI had a return on equity of 18.27% and a net margin of 5.52%. The company had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd will be issued a $0.34 dividend. This is an increase from HNI’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.98%. HNI’s dividend payout ratio is currently 48.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Longbow Research began coverage on HNI in a report on Friday, May 16th. They issued a “buy” rating and a $70.00 price target for the company. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Susquehanna started coverage on shares of HNI in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 price objective for the company.

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.