HNI (NYSE:HNI) Reaches New 1-Year High – Here’s What Happened

HNI Co. (NYSE:HNI) shares reached a new 52-week high on Monday . The stock traded as high as $57.90 and last traded at $57.90, with a volume of 495 shares changing hands. The stock had previously closed at $56.17.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

HNI Trading Down 1.0 %

The stock has a 50 day simple moving average of $53.36 and a 200-day simple moving average of $50.06. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.72 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.60 and a beta of 0.85.

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

HNI Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a yield of 2.32%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insiders Place Their Bets

In other HNI news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.36% of the company’s stock.

Institutional Trading of HNI

Several institutional investors and hedge funds have recently modified their holdings of HNI. Vanguard Group Inc. raised its holdings in HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after acquiring an additional 287,735 shares during the period. State Street Corp grew its position in shares of HNI by 1.1% during the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock worth $101,033,000 after purchasing an additional 20,717 shares in the last quarter. FMR LLC raised its position in shares of HNI by 275.3% during the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after buying an additional 1,346,999 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in HNI by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after acquiring an additional 9,901 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of HNI by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,084,830 shares of the business services provider’s stock worth $58,419,000 after buying an additional 7,553 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

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.