Mackenzie Financial Corp Has $1.57 Million Stake in HNI Co. (NYSE:HNI)

Mackenzie Financial Corp grew its stake in HNI Co. (NYSE:HNI - Free Report) by 38.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,153 shares of the business services provider's stock after buying an additional 8,620 shares during the quarter. Mackenzie Financial Corp owned 0.07% of HNI worth $1,569,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HNI. Vanguard Group Inc. boosted its stake in HNI by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock worth $288,016,000 after purchasing an additional 62,476 shares during the period. FMR LLC boosted its position in shares of HNI by 6.8% during the fourth quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock worth $98,755,000 after buying an additional 124,391 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of HNI by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock worth $81,786,000 after buying an additional 43,249 shares in the last quarter. Geode Capital Management LLC raised its position in HNI by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock valued at $54,992,000 after buying an additional 6,668 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in HNI by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider's stock valued at $31,646,000 after acquiring an additional 105,034 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Longbow Research assumed coverage on shares of HNI in a research note on Friday, May 16th. They set a "buy" rating and a $70.00 price target for the company. Susquehanna initiated coverage on shares of HNI in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Finally, Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

HNI Stock Performance

Shares of HNI traded down $0.29 during mid-day trading on Wednesday, reaching $46.97. The company's stock had a trading volume of 162,301 shares, compared to its average volume of 308,716. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI Co. has a 1-year low of $39.76 and a 1-year high of $58.42. The business has a 50-day simple moving average of $44.21 and a two-hundred day simple moving average of $47.85. The stock has a market cap of $2.19 billion, a P/E ratio of 16.25, a PEG ratio of 1.14 and a beta of 0.91.

HNI (NYSE:HNI - Get Free Report) last posted 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. HNI had a return on equity of 18.27% and a net margin of 5.52%. The business had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. During the same quarter in the prior year, the business earned $0.37 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio (DPR) is currently 48.40%.

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.