BNP Paribas Financial Markets Lowers Holdings in HNI Co. (NYSE:HNI)

BNP Paribas Financial Markets reduced its position in shares of HNI Co. (NYSE:HNI - Free Report) by 46.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,540 shares of the business services provider's stock after selling 9,865 shares during the quarter. BNP Paribas Financial Markets' holdings in HNI were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock valued at $28,000 after acquiring an additional 258 shares during the period. Sterling Capital Management LLC grew its stake in shares of HNI by 649.1% in the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock worth $41,000 after purchasing an additional 701 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in HNI during the 4th quarter valued at about $55,000. Meeder Asset Management Inc. purchased a new stake in HNI in the 4th quarter worth approximately $121,000. Finally, Vestcor Inc purchased a new stake in HNI in the 4th quarter worth approximately $176,000. Hedge funds and other institutional investors own 75.26% of the company's stock.

HNI Stock Up 3.6%

Shares of NYSE:HNI traded up $1.65 during trading on Tuesday, hitting $47.18. The stock had a trading volume of 302,838 shares, compared to its average volume of 308,430. The company has a market capitalization of $2.20 billion, a PE ratio of 16.32, a PEG ratio of 1.14 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average is $43.87 and its 200 day moving average is $48.18. HNI Co. has a 12 month low of $39.76 and a 12 month high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. The company had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. Analysts anticipate that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Friday, May 23rd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.88%. This is a positive change from HNI's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 23rd. HNI's dividend payout ratio (DPR) is presently 48.40%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HNI. Longbow Research began coverage on HNI in a research note on Friday, May 16th. They set a "buy" rating and a $70.00 target price on the stock. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Susquehanna assumed 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.

HNI Company 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.