HNI (NYSE:HNI) Stock Passes Above 200-Day Moving Average – Here’s What Happened

HNI Corporation (NYSE:HNI)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.33 and traded as high as $48.77. HNI shares last traded at $48.6890, with a volume of 569,504 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings downgraded shares of HNI from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Benchmark reiterated a “buy” rating on shares of HNI in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

HNI Price Performance

The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.58 and a beta of 0.94. The stock’s fifty day moving average price is $43.65 and its two-hundred day moving average price is $44.33. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, November 17th. HNI’s payout ratio is 45.64%.

Institutional Investors Weigh In On HNI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC boosted its holdings in HNI by 2.0% in the second quarter. Valeo Financial Advisors LLC now owns 10,537 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 205 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of HNI by 59.9% during the 4th quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock worth $51,000 after buying an additional 458 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of HNI by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 134,220 shares of the business services provider’s stock valued at $6,601,000 after buying an additional 512 shares in the last quarter. Triumph Capital Management purchased a new position in shares of HNI in the 3rd quarter valued at $28,000. Finally, SG Americas Securities LLC raised its stake in HNI by 4.0% during the 3rd quarter. SG Americas Securities LLC now owns 15,938 shares of the business services provider’s stock worth $747,000 after acquiring an additional 608 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.