HNI (NYSE:HNI) Hits New 52-Week Low at $24.61

HNI Co. (NYSE:HNI – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $24.61 and last traded at $27.14, with a volume of 854290 shares trading hands. The stock had previously closed at $29.94.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HNI shares. Sidoti raised HNI from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Thursday. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 24th.

HNI Stock Up 4.5 %

The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.16 billion, a P/E ratio of 9.50 and a beta of 0.95. The company has a 50-day moving average of $30.57 and a two-hundred day moving average of $29.70.

HNI (NYSE:HNI – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. HNI had a return on equity of 15.68% and a net margin of 5.25%. The company had revenue of $568.90 million for the quarter, compared to analyst estimates of $559.22 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis.

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 8th. Investors of record on Monday, February 27th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 24th. This represents a $1.28 annualized dividend and a dividend yield of 4.57%. HNI’s dividend payout ratio is presently 43.39%.

Insider Activity at HNI

In other HNI news, EVP Vincent P. Berger sold 2,150 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $32.24, for a total value of $69,316.00. Following the sale, the executive vice president now directly owns 63,298 shares of the company’s stock, valued at $2,040,727.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HNI news, CFO Marshall H. Bridges sold 4,383 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $32.35, for a total value of $141,790.05. Following the sale, the chief financial officer now directly owns 72,287 shares of the company’s stock, valued at $2,338,484.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vincent P. Berger sold 2,150 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $32.24, for a total value of $69,316.00. Following the completion of the sale, the executive vice president now directly owns 63,298 shares in the company, valued at $2,040,727.52. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its stake in shares of HNI by 1.2% in the third quarter. Fifth Third Bancorp now owns 31,167 shares of the business services provider’s stock worth $826,000 after purchasing an additional 366 shares during the last quarter. Barclays PLC raised its stake in shares of HNI by 1.6% in the third quarter. Barclays PLC now owns 24,200 shares of the business services provider’s stock worth $641,000 after purchasing an additional 378 shares during the last quarter. Bank of Montreal Can raised its stake in shares of HNI by 5.0% in the fourth quarter. Bank of Montreal Can now owns 7,910 shares of the business services provider’s stock worth $226,000 after purchasing an additional 380 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of HNI by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 22,612 shares of the business services provider’s stock worth $643,000 after purchasing an additional 386 shares during the last quarter. Finally, Clifford Capital Partners LLC raised its stake in shares of HNI by 0.3% in the third quarter. Clifford Capital Partners LLC now owns 141,902 shares of the business services provider’s stock worth $3,762,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.

About HNI

(Get Rating)

HNI Corp. engages in the provision of workplace furnishings and residential building products. It operates through the following segments: Workplace Furnishing and Residential Building Products. The Workplace Furnishings segment manufactures and markets a broad line of commercial and home office furniture, which includes panel-based and freestanding furniture systems, seating, storage, tables, and architectural products.