HNI (NYSE:HNI) Sets New 52-Week High at $33.52

HNI Co. (NYSE:HNI) hit a new 52-week high during trading on Friday . The company traded as high as $33.52 and last traded at $33.49, with a volume of 24112 shares traded. The stock had previously closed at $32.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of HNI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Benchmark increased their target price on HNI from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th.

HNI Stock Up 1.5 %

The stock has a market cap of $1.55 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. The company has a current ratio of 1.22, a quick ratio of 0.74 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $29.62 and a 200-day moving average price of $28.16.

HNI (NYSE:HNI) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.27. The firm had revenue of $563.50 million for the quarter, compared to analyst estimates of $564.29 million. HNI had a return on equity of 13.43% and a net margin of 3.09%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. As a group, analysts forecast that HNI Co. will post 2.16 earnings per share for the current year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.28 dividend on an annualized basis and a yield of 3.85%. HNI’s payout ratio is currently 78.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in HNI by 8.8% in the 2nd quarter. California State Teachers Retirement System now owns 56,213 shares of the business services provider’s stock valued at $1,584,000 after purchasing an additional 4,561 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of HNI by 11.5% during the 2nd quarter. Osaic Holdings Inc. now owns 5,536 shares of the business services provider’s stock worth $156,000 after acquiring an additional 570 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of HNI by 6.0% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 12,771 shares of the business services provider’s stock worth $359,000 after acquiring an additional 725 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of HNI by 230.5% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 94,773 shares of the business services provider’s stock worth $2,671,000 after acquiring an additional 66,094 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of HNI by 12.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 184,749 shares of the business services provider’s stock worth $5,206,000 after acquiring an additional 20,218 shares during the period. Hedge funds and other institutional investors own 77.27% of the company’s stock.

About HNI

HNI Corporation, together with its subsidiaries, manufactures, sells, and markets 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, and architectural products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF Textiles, HBF, OFM, Respawn, and HNI India brands.