HNI (NYSE:HNI) Reaches New 52-Week High at $56.13

HNI Co. (NYSE:HNI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $56.13 and last traded at $55.53, with a volume of 144121 shares traded. The stock had previously closed at $54.78.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HNI shares. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. Benchmark lifted their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

HNI Stock Up 0.3 %

The business has a fifty day moving average of $46.30 and a 200 day moving average of $44.23. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.60 billion, a P/E ratio of 40.51, a P/E/G ratio of 1.43 and a beta of 0.86.

HNI (NYSE:HNI) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. The company had revenue of $623.70 million during the quarter, compared to analysts’ expectations of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. HNI’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. On average, equities research analysts predict that HNI Co. will post 3.17 EPS for the current year.

HNI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were issued a $0.33 dividend. The ex-dividend date was Thursday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 2.40%. HNI’s dividend payout ratio (DPR) is 97.78%.

Insider Activity

In related news, Director Larry B. Porcellato sold 1,796 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total transaction of $82,616.00. Following the sale, the director now owns 39,100 shares of the company’s stock, valued at approximately $1,798,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Donna D. Meade sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $45.97, for a total value of $459,700.00. Following the completion of the transaction, the vice president now owns 32,308 shares in the company, valued at $1,485,198.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry B. Porcellato sold 1,796 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total transaction of $82,616.00. Following the sale, the director now directly owns 39,100 shares of the company’s stock, valued at approximately $1,798,600. The disclosure for this sale can be found here. Insiders sold 46,080 shares of company stock valued at $2,224,126 in the last quarter. Company insiders own 3.36% of the company’s stock.

Hedge Funds Weigh In On HNI

A number of large investors have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of HNI in the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC acquired a new stake in HNI in the 4th quarter valued at approximately $42,000. Northwest Financial Advisors bought a new stake in HNI in the 4th quarter valued at approximately $134,000. Daiwa Securities Group Inc. acquired a new position in HNI during the 1st quarter worth approximately $202,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of HNI during the 4th quarter worth approximately $216,000. 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.