HNI (NYSE:HNI) Reaches New 12-Month High – Time to Buy?

HNI Co. (NYSE:HNI) shares reached a new 52-week high on Monday . The stock traded as high as $57.90 and last traded at $57.90, with a volume of 495 shares traded. The stock had previously closed at $56.17.

Analysts Set New Price Targets

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

HNI Stock Performance

The stock’s fifty day moving average is $53.25 and its 200-day moving average is $49.95. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.60 and a beta of 0.85.

HNI (NYSE:HNI) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. On average, analysts forecast that HNI Co. will post 2.93 EPS for the current year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, November 18th. HNI’s payout ratio is 51.16%.

Insider Buying and Selling

In related news, Director Miguel M. Calado sold 5,299 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HNI. CWM LLC increased its position in HNI by 3.2% during the third quarter. CWM LLC now owns 7,332 shares of the business services provider’s stock valued at $395,000 after acquiring an additional 225 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of HNI by 51.6% in the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after buying an additional 228 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of HNI by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock valued at $753,000 after acquiring an additional 287 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 338 shares during the last quarter. Finally, Versor Investments LP grew its holdings in HNI by 5.2% during the 2nd quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

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.