Lazard Asset Management LLC Sells 13,083 Shares of HNI Co. (NYSE:HNI)

Lazard Asset Management LLC decreased its holdings in HNI Co. (NYSE:HNI - Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,902 shares of the business services provider's stock after selling 13,083 shares during the period. Lazard Asset Management LLC owned about 0.08% of HNI worth $1,858,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock worth $28,000 after buying an additional 258 shares during the last quarter. Sterling Capital Management LLC increased its holdings in 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 buying an additional 701 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in HNI in the fourth quarter worth approximately $55,000. Meeder Asset Management Inc. acquired a new position in HNI in the fourth quarter worth approximately $121,000. Finally, Vestcor Inc acquired a new position in HNI in the fourth quarter worth approximately $176,000. Institutional investors and hedge funds own 75.26% of the company's stock.

HNI Stock Performance

HNI stock traded down $0.85 during trading hours on Friday, reaching $45.56. 193,639 shares of the company were exchanged, compared to its average volume of 307,877. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.14 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $43.83 and a 200 day moving average of $48.33. 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 announced its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $599.80 million during the quarter, compared to analysts' expectations of $580.47 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that HNI Co. will post 3.6 earnings per share for the current year.

HNI Increases Dividend

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

Wall Street Analysts Forecast Growth

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