HNI (NYSE:HNI) Reaches New 1-Year High at $45.25

HNI Co. (NYSE:HNIGet Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $45.25 and last traded at $45.24, with a volume of 10011 shares traded. The stock had previously closed at $44.69.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

Check Out Our Latest Report on HNI

HNI Stock Up 0.1 %

The company has a market cap of $2.13 billion, a P/E ratio of 44.26, a PEG ratio of 1.27 and a beta of 0.86. The stock’s 50-day moving average price is $42.82 and its 200-day moving average price is $39.53. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57.

HNI (NYSE:HNIGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.18. The company had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $686.15 million. HNI had a net margin of 2.03% and a return on equity of 16.97%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, research analysts forecast that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.84%. HNI’s dividend payout ratio (DPR) is presently 125.49%.

Insider Transactions at HNI

In other news, EVP Vincent P. Berger sold 9,976 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $43.01, for a total transaction of $429,067.76. Following the transaction, the executive vice president now owns 67,025 shares of the company’s stock, valued at approximately $2,882,745.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Miguel M. Calado sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.99, for a total value of $107,475.00. Following the transaction, the director now owns 36,988 shares of the company’s stock, valued at approximately $1,590,114.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vincent P. Berger sold 9,976 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $43.01, for a total transaction of $429,067.76. Following the completion of the transaction, the executive vice president now directly owns 67,025 shares in the company, valued at approximately $2,882,745.25. The disclosure for this sale can be found here. Insiders have sold 17,374 shares of company stock valued at $749,534 in the last 90 days. 3.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HNI

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. purchased a new stake in HNI in the 1st quarter valued at about $201,000. Citigroup Inc. increased its stake in HNI by 3.2% in the 1st quarter. Citigroup Inc. now owns 40,927 shares of the business services provider’s stock valued at $1,516,000 after buying an additional 1,270 shares during the last quarter. MetLife Investment Management LLC increased its stake in HNI by 53.3% in the 1st quarter. MetLife Investment Management LLC now owns 23,167 shares of the business services provider’s stock valued at $858,000 after buying an additional 8,055 shares during the last quarter. Rhumbline Advisers increased its stake in HNI by 2.2% in the 1st quarter. Rhumbline Advisers now owns 120,297 shares of the business services provider’s stock valued at $4,457,000 after buying an additional 2,586 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in HNI by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,552 shares of the business services provider’s stock valued at $1,391,000 after buying an additional 4,630 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

About HNI

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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.

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