HNI (NYSE:HNI) Sets New 12-Month Low – Here’s Why

Shares of HNI Corporation (NYSE:HNI) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $31.38 and last traded at $31.5120, with a volume of 98423 shares changing hands. The stock had previously closed at $32.44.

Analyst Upgrades and Downgrades

HNI has been the subject of several research analyst reports. Weiss Ratings lowered HNI from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen cut HNI from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Benchmark dropped their price target on HNI from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

HNI Price Performance

The business has a 50-day moving average of $36.90 and a 200 day moving average of $41.60. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.26 billion, a P/E ratio of 77.15, a price-to-earnings-growth ratio of 0.42 and a beta of 1.01.

HNI (NYSE:HNI) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. HNI had a return on equity of 13.17% and a net margin of 0.04%.The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 124.7% on a year-over-year basis. On average, sell-side analysts predict that HNI Corporation will post 4 earnings per share for the current fiscal year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, March 2nd. HNI’s payout ratio is 331.71%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of HNI by 59.9% during the fourth quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock worth $51,000 after acquiring an additional 458 shares in the last quarter. Triumph Capital Management bought a new stake in HNI during the 3rd quarter worth approximately $28,000. SG Americas Securities LLC raised its stake in shares of HNI by 4.0% in the third quarter. SG Americas Securities LLC now owns 15,938 shares of the business services provider’s stock worth $747,000 after purchasing an additional 608 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of HNI by 6.3% in the first quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider’s stock worth $600,000 after purchasing an additional 802 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of HNI by 433.7% in the third quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 902 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.