HNI (NYSE:HNI) Hits New 1-Year High at $45.20

HNI Co. (NYSE:HNIGet Free Report)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $45.20 and last traded at $45.16, with a volume of 46213 shares traded. The stock had previously closed at $44.71.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th.

View Our Latest Research Report on HNI

HNI Trading Down 0.8 %

The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 43.59, a P/E/G ratio of 1.27 and a beta of 0.86. The company has a 50-day moving average price of $42.46 and a 200-day moving average price of $39.17. The company has a quick ratio of 0.73, a current ratio of 1.16 and a debt-to-equity ratio of 0.57.

HNI (NYSE:HNIGet Free Report) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. HNI had a return on equity of 16.97% and a net margin of 2.03%. The business had revenue of $679.80 million for the quarter, compared to the consensus estimate of $686.15 million. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts predict that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s dividend payout ratio (DPR) is presently 125.49%.

Insider Buying and Selling

In related news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now directly owns 40,718 shares of the company’s stock, valued at $1,791,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other HNI news, EVP Vincent P. Berger sold 9,976 shares of HNI stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $43.01, for a total transaction of $429,067.76. Following the sale, the executive vice president now directly owns 67,025 shares of the company’s stock, valued at $2,882,745.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the transaction, the director now owns 40,718 shares of the company’s stock, valued at approximately $1,791,592. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock valued at $749,534 over the last three months. 4.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of HNI in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC bought a new position in HNI in the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC raised its position in HNI by 1,015.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,104 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,005 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of HNI during the 3rd quarter valued at $56,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of HNI during the 3rd quarter valued at $71,000. Institutional investors own 77.27% of the company’s stock.

About HNI

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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.

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