HNI (NYSE:HNI) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of HNI (NYSE:HNIGet Rating) from a buy rating to a strong-buy rating in a report released on Friday.

Several other equities research analysts have also commented on the company. Sidoti lowered HNI from a buy rating to a neutral rating and set a $38.00 price objective for the company. in a research note on Monday, August 1st. TheStreet upgraded HNI from a c+ rating to a b- rating in a research report on Monday, June 27th.

HNI Price Performance

NYSE:HNI opened at $32.34 on Friday. HNI has a 12 month low of $30.03 and a 12 month high of $44.50. The stock has a 50 day moving average of $34.37 and a two-hundred day moving average of $36.02. The company has a current ratio of 1.27, a quick ratio of 0.81 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.34 billion, a P/E ratio of 19.37 and a beta of 0.88.

HNI (NYSE:HNIGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The business services provider reported $0.52 EPS for the quarter. HNI had a return on equity of 12.62% and a net margin of 3.01%. The company had revenue of $621.70 million during the quarter, compared to analyst estimates of $606.65 million. During the same period in the previous year, the business earned $0.40 EPS. HNI’s quarterly revenue was up 21.8% on a year-over-year basis.

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Friday, August 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Thursday, August 25th. HNI’s dividend payout ratio (DPR) is 76.65%.

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 1,500 shares of the company’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $34.95, for a total transaction of $52,425.00. Following the transaction, the director now directly owns 41,701 shares in the company, valued at $1,457,449.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Institutional Trading of HNI

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in shares of HNI by 12.0% in the first quarter. ProShare Advisors LLC now owns 272,467 shares of the business services provider’s stock valued at $10,094,000 after acquiring an additional 29,291 shares in the last quarter. SG Americas Securities LLC increased its holdings in HNI by 81.6% in the fourth quarter. SG Americas Securities LLC now owns 6,413 shares of the business services provider’s stock valued at $270,000 after buying an additional 2,882 shares during the last quarter. Royce & Associates LP increased its holdings in HNI by 33.0% in the first quarter. Royce & Associates LP now owns 41,464 shares of the business services provider’s stock valued at $1,536,000 after buying an additional 10,279 shares during the last quarter. Guardian Wealth Management Inc. purchased a new position in HNI in the fourth quarter valued at $27,000. Finally, Crawford Investment Counsel Inc. increased its holdings in HNI by 13.5% in the first quarter. Crawford Investment Counsel Inc. now owns 455,203 shares of the business services provider’s stock valued at $16,865,000 after buying an additional 54,246 shares during the last quarter. 77.59% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

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HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products primarily in the United States. 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, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, Lamex, and HNI India brands.

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