HNI Co. (NYSE:HNI) Stake Raised by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of HNI Co. (NYSE:HNI - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,136 shares of the business services provider's stock after buying an additional 13,330 shares during the period. Deutsche Bank AG owned approximately 0.09% of HNI worth $2,072,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in HNI by 85.1% during the 4th 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 in the last quarter. Sterling Capital Management LLC raised its stake in shares of HNI by 649.1% during the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after purchasing an additional 701 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in HNI in the fourth quarter worth about $55,000. Meeder Asset Management Inc. acquired a new stake in HNI in the fourth quarter worth about $121,000. Finally, Vestcor Inc bought a new position in HNI in the 4th quarter valued at about $176,000. 75.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Longbow Research began coverage on shares of HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price target on the stock. Susquehanna assumed coverage on HNI in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Finally, Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th.

HNI Trading Up 0.6%

Shares of HNI stock opened at $46.38 on Friday. The stock has a 50-day simple moving average of $43.79 and a 200 day simple moving average of $48.37. The stock has a market capitalization of $2.16 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.14 and a beta of 0.91. HNI Co. has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. 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 - 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, beating analysts' consensus estimates of $0.35 by $0.09. The company had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. HNI's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 EPS. On average, sell-side analysts expect that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd will be given a $0.34 dividend. 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. This represents a $1.36 annualized dividend and a yield of 2.93%. HNI's payout ratio is 48.40%.

HNI 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.

Want to see what other hedge funds are holding HNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HNI Co. (NYSE:HNI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.