HNI (NYSE:HNI) Reaches New 12-Month High at $51.20

HNI Co. (NYSE:HNI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $51.20 and last traded at $51.20, with a volume of 18248 shares traded. The stock had previously closed at $48.88.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their target price on 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 firm has a market capitalization of $2.45 billion, a P/E ratio of 38.41, a P/E/G ratio of 1.35 and a beta of 0.86. The firm has a 50-day moving average price of $45.61 and a two-hundred day moving average price of $43.83. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.77.

HNI (NYSE:HNI) last released its earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. On average, analysts forecast that HNI Co. will post 3.1 EPS for the current fiscal year.

HNI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.32. HNI’s payout ratio is 97.78%.

Insider Buying and Selling at HNI

In related news, VP Steven M. Bradford sold 11,237 shares of HNI stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.35, for a total transaction of $543,308.95. Following the completion of the sale, the vice president now owns 61,642 shares of the company’s stock, valued at $2,980,390.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other HNI news, Director Larry B. Porcellato sold 1,796 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total value of $82,616.00. Following the completion of the transaction, the director now directly owns 39,100 shares of the company’s stock, valued at $1,798,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven M. Bradford sold 11,237 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.35, for a total value of $543,308.95. Following the transaction, the vice president now directly owns 61,642 shares of the company’s stock, valued at $2,980,390.70. The disclosure for this sale can be found here. Insiders have sold 35,966 shares of company stock worth $1,685,119 over the last quarter. Insiders own 3.36% of the company’s stock.

Institutional Trading of HNI

Several large investors have recently made changes to their positions in HNI. Vanguard Group Inc. increased its position in shares of HNI by 0.7% during the third quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock worth $182,728,000 after purchasing an additional 36,988 shares in the last quarter. New York State Teachers Retirement System grew its holdings in HNI by 3.7% in the 4th quarter. New York State Teachers Retirement System now owns 85,937 shares of the business services provider’s stock valued at $3,595,000 after buying an additional 3,027 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in HNI by 3.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,056 shares of the business services provider’s stock valued at $881,000 after buying an additional 743 shares in the last quarter. Equitable Trust Co. grew its holdings in HNI by 7.1% in the 4th quarter. Equitable Trust Co. now owns 7,352 shares of the business services provider’s stock valued at $308,000 after buying an additional 486 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in HNI in the 4th quarter valued at $2,515,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.