Short Interest in HNI Co. (NYSE:HNI) Declines By 6.3%

HNI Co. (NYSE:HNI) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,190,000 shares, a decline of 6.3% from the January 15th total of 1,270,000 shares. Based on an average daily volume of 336,600 shares, the days-to-cover ratio is currently 3.5 days.

HNI Stock Performance

NYSE:HNI opened at $49.28 on Wednesday. The company has a market cap of $2.36 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.16 and a beta of 0.90. The firm’s 50 day moving average is $50.29 and its two-hundred day moving average is $52.08. HNI has a fifty-two week low of $40.94 and a fifty-two week high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, February 24th. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insider Buying and Selling

In related news, Director Larry B. Porcellato sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the sale, the director now owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HNI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in shares of HNI in the 4th quarter valued at about $876,000. State Street Corp lifted its position in HNI by 1.1% during the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock valued at $101,033,000 after buying an additional 20,717 shares in the last quarter. JPMorgan Chase & Co. grew its stake in HNI by 54.4% during the third quarter. JPMorgan Chase & Co. now owns 136,923 shares of the business services provider’s stock worth $7,372,000 after buying an additional 48,237 shares during the period. Intech Investment Management LLC acquired a new stake in shares of HNI in the third quarter worth $2,245,000. Finally, Farther Finance Advisors LLC raised its stake in shares of HNI by 4,746.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 2,136 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

About HNI

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.