HNI (NYSE:HNI) Sets New 52-Week Low – What’s Next?

HNI Co. (NYSE:HNI)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $40.78 and last traded at $41.19, with a volume of 96417 shares changing hands. The stock had previously closed at $42.73.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 21st.

HNI Stock Performance

The company has a 50 day moving average price of $46.47 and a 200-day moving average price of $50.56. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.98 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $642.50 million for the quarter, compared to analyst estimates of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. On average, equities analysts expect that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Monday, February 24th. HNI’s dividend payout ratio is 45.67%.

Insider Buying and Selling at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in HNI by 29.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider’s stock worth $1,152,000 after buying an additional 4,911 shares during the period. State Street Corp lifted its holdings in shares of HNI by 1.1% during the third quarter. State Street Corp now owns 1,876,542 shares of the business services provider’s stock worth $101,033,000 after purchasing an additional 20,717 shares during the period. Jane Street Group LLC grew its stake in shares of HNI by 64.0% in the third quarter. Jane Street Group LLC now owns 72,922 shares of the business services provider’s stock worth $3,926,000 after purchasing an additional 28,459 shares during the last quarter. Zacks Investment Management increased its holdings in HNI by 12.6% in the third quarter. Zacks Investment Management now owns 5,158 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 578 shares during the period. Finally, MML Investors Services LLC bought a new position in HNI during the 3rd quarter worth $281,000. Institutional investors and hedge funds 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.