HNI (NYSE:HNI) Hits New 1-Year High – Here’s Why

HNI Co. (NYSE:HNI)’s share price reached a new 52-week high on Monday . The company traded as high as $56.37 and last traded at $56.25, with a volume of 10655 shares. The stock had previously closed at $54.84.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Benchmark upped their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

HNI Price Performance

The company has a market cap of $2.70 billion, a PE ratio of 21.90, a PEG ratio of 1.61 and a beta of 0.85. The firm’s 50-day moving average is $52.57 and its 200-day moving average is $49.32. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. On average, equities analysts anticipate that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.34%. HNI’s dividend payout ratio (DPR) is 51.16%.

Insider Activity

In related news, Director Mary A. Bell sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total value of $259,250.00. Following the completion of the transaction, the director now directly owns 74,401 shares in the company, valued at $3,857,691.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mary A. Bell sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $51.85, for a total value of $259,250.00. Following the sale, the director now directly owns 74,401 shares of the company’s stock, valued at $3,857,691.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,480 shares of company stock worth $2,041,210. Corporate insiders own 3.36% of the company’s stock.

Hedge Funds Weigh In On HNI

A number of hedge funds have recently bought and sold shares of the company. Jupiter Asset Management Ltd. raised its holdings in HNI by 184.7% in the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock worth $4,618,000 after buying an additional 66,387 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in HNI by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after acquiring an additional 544 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in HNI by 30.4% during the 1st quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider’s stock valued at $2,163,000 after purchasing an additional 11,168 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of HNI by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 16,646 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of HNI in the third quarter worth $450,000. Institutional investors own 75.26% of the company’s stock.

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.