HNI (NYSE:HNI) Reaches New 12-Month High at $56.13

HNI Co. (NYSE:HNI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $56.13 and last traded at $55.53, with a volume of 144121 shares trading hands. The stock had previously closed at $54.78.

Wall Street Analyst Weigh In

HNI has been the subject of several research reports. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th.

HNI Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The stock’s fifty day simple moving average is $46.30 and its 200-day simple moving average is $44.23. The stock has a market cap of $2.60 billion, a P/E ratio of 40.51, a PEG ratio of 1.43 and a beta of 0.86.

HNI (NYSE:HNI) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.18. The business had revenue of $623.70 million for the quarter, compared to the consensus estimate of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, research analysts anticipate that HNI Co. will post 3.17 earnings per share for the current year.

HNI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, May 23rd. This is a boost from HNI’s previous quarterly dividend of $0.32. HNI’s dividend payout ratio (DPR) is 97.78%.

Insider Buying and Selling at HNI

In other news, CFO Marshall H. Bridges sold 4,138 shares of HNI stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.50, for a total transaction of $221,383.00. Following the sale, the chief financial officer now owns 78,346 shares of the company’s stock, valued at $4,191,511. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Marshall H. Bridges sold 4,138 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.50, for a total value of $221,383.00. Following the completion of the transaction, the chief financial officer now owns 78,346 shares of the company’s stock, valued at $4,191,511. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Steven M. Bradford sold 5,976 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.15, for a total transaction of $317,624.40. Following the transaction, the vice president now directly owns 61,642 shares in the company, valued at approximately $3,276,272.30. The disclosure for this sale can be found here. Insiders sold 46,080 shares of company stock valued at $2,224,126 in the last ninety days. Company insiders own 3.36% of the company’s stock.

Institutional Investors Weigh In On HNI

Hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of HNI in the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC purchased a new stake in shares of HNI during the fourth quarter valued at $42,000. Northwest Financial Advisors acquired a new position in shares of HNI in the 4th quarter valued at $134,000. Daiwa Securities Group Inc. purchased a new position in HNI in the 1st quarter worth about $202,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in HNI during the 4th quarter worth about $216,000. 75.26% of the stock is currently owned by 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.