HNI Corp (NYSE:HNI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “HNI Corp has two reportable core operating segments: office furniture and hearth products. They are the second largest office furniture manufacturer in the United States and the nation’s leading manufacturer and marketer of gas- and wood-burning fireplaces. “
HNI has been the topic of a number of other reports. Sidoti raised HNI Corp from a “neutral” rating to a “buy” rating in a report on Tuesday, February 28th. Off Wall Street assumed coverage on HNI Corp in a report on Monday, February 6th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. HNI Corp presently has an average rating of “Hold” and a consensus price target of $48.33.
Shares of HNI Corp (NYSE:HNI) traded down 3.30% during midday trading on Monday, hitting $45.42. 202,849 shares of the company’s stock traded hands. The stock has a market cap of $2.00 billion, a P/E ratio of 24.16 and a beta of 1.44. The company has a 50 day moving average of $47.13 and a 200 day moving average of $48.15. HNI Corp has a 52 week low of $36.79 and a 52 week high of $56.96.
HNI Corp (NYSE:HNI) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $581.30 million for the quarter, compared to analyst estimates of $581.50 million. HNI Corp had a net margin of 3.88% and a return on equity of 23.75%. HNI Corp’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. On average, equities analysts forecast that HNI Corp will post $2.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 6th. Stockholders of record on Monday, February 27th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 23rd. HNI Corp’s dividend payout ratio (DPR) is 58.51%.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC raised its position in shares of HNI Corp by 5.6% in the third quarter. LS Investment Advisors LLC now owns 2,888 shares of the company’s stock worth $115,000 after buying an additional 152 shares during the period. Dana Investment Advisors Inc. acquired a new position in shares of HNI Corp during the third quarter worth approximately $249,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of HNI Corp during the third quarter worth approximately $271,000. Russell Investments Group Ltd. acquired a new position in shares of HNI Corp during the fourth quarter worth approximately $391,000. Finally, Lucus Advisors LLC acquired a new position in shares of HNI Corp during the third quarter worth approximately $393,000. 67.13% of the stock is currently owned by institutional investors.
HNI Corp Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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