HNI (NYSE:HNI) Hits New 12-Month High at $47.80

HNI Co. (NYSE:HNI)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $47.80 and last traded at $47.77, with a volume of 12229 shares. The stock had previously closed at $47.12.

Analysts Set New Price Targets

Separately, Benchmark lifted their price target on shares of HNI from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th.

HNI Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $45.02 and its two-hundred day simple moving average is $43.37. The stock has a market cap of $2.28 billion, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. HNI had a net margin of 2.57% and a return on equity of 17.75%. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. As a group, research analysts forecast that HNI Co. will post 3.1 EPS for the current year.

HNI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a $0.33 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. This is a positive change from HNI’s previous quarterly dividend of $0.32. HNI’s payout ratio is presently 97.78%.

Insider Buying and Selling at HNI

In other news, Director Larry B. Porcellato sold 1,796 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $46.00, for a total value of $82,616.00. Following the sale, the director now owns 39,100 shares of the company’s stock, valued at $1,798,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Larry B. Porcellato sold 1,796 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $46.00, for a total value of $82,616.00. Following the sale, the director now owns 39,100 shares of the company’s stock, valued at $1,798,600. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Donna D. Meade sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $45.97, for a total transaction of $459,700.00. Following the sale, the vice president now directly owns 32,308 shares in the company, valued at $1,485,198.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,349 shares of company stock valued at $931,479. 3.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HNI

Several institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new stake in HNI during the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC bought a new stake in HNI during the fourth quarter worth about $42,000. Northwest Financial Advisors bought a new stake in HNI during the fourth quarter worth about $134,000. Daiwa Securities Group Inc. bought a new stake in HNI during the first quarter worth about $202,000. Finally, Cornerstone Investment Partners LLC bought a new stake in HNI during the fourth quarter worth about $216,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

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.