HNI (NYSE:HNI) Reaches New 12-Month Low at $29.08

Shares of HNI Co. (NYSE:HNIGet Rating) hit a new 52-week low during trading on Wednesday . The stock traded as low as $29.08 and last traded at $29.75, with a volume of 3272 shares changing hands. The stock had previously closed at $29.48.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HNI shares. Sidoti cut shares of HNI from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Monday, August 1st. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 17th. Finally, TheStreet raised shares of HNI from a “c+” rating to a “b-” rating in a research report on Monday, June 27th.

HNI Trading Down 2.8 %

The firm has a market capitalization of $1.17 billion, a PE ratio of 16.95 and a beta of 0.88. The company’s 50-day moving average price is $33.62 and its 200-day moving average price is $35.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.81 and a current ratio of 1.27.

HNI (NYSE:HNIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The business services provider reported $0.52 EPS for the quarter. HNI had a net margin of 3.01% and a return on equity of 12.62%. The firm had revenue of $621.70 million for the quarter, compared to analyst estimates of $606.65 million. During the same period last year, the business earned $0.40 EPS. HNI’s revenue for the quarter was up 21.8% compared to the same quarter last year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 26th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.28 annualized dividend and a yield of 4.52%. HNI’s dividend payout ratio is currently 76.65%.

Insider Buying and Selling

In other HNI news, Director Larry B. Porcellato sold 1,500 shares of HNI stock in a transaction on Friday, August 12th. The shares were sold at an average price of $34.95, for a total value of $52,425.00. Following the transaction, the director now directly owns 41,701 shares in the company, valued at $1,457,449.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System increased its stake in shares of HNI by 1.8% during the first quarter. Maryland State Retirement & Pension System now owns 17,619 shares of the business services provider’s stock worth $653,000 after acquiring an additional 319 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of HNI by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 6,277 shares of the business services provider’s stock worth $233,000 after acquiring an additional 326 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in HNI by 1.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 19,760 shares of the business services provider’s stock worth $685,000 after buying an additional 375 shares in the last quarter. Fifth Third Bancorp boosted its holdings in HNI by 1.4% during the second quarter. Fifth Third Bancorp now owns 30,801 shares of the business services provider’s stock worth $1,068,000 after buying an additional 413 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in HNI by 7.1% during the first quarter. Teacher Retirement System of Texas now owns 9,018 shares of the business services provider’s stock worth $334,000 after buying an additional 595 shares in the last quarter. 77.59% of the stock is currently owned by institutional investors and hedge funds.

About HNI

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HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products primarily in the United States. 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, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, Lamex, and HNI India brands.

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