According to Zacks, “HNI Corporation provide products and solutions for the home and workplace environments. HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI Corporation sell the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI Corporation hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. “
HNI has been the subject of a number of other reports. TheStreet upgraded HNI from a c+ rating to a b rating in a report on Friday, February 15th. Seaport Global Securities restated a neutral rating on shares of HNI in a report on Wednesday, February 27th. Finally, Sidoti cut HNI from a buy rating to a neutral rating and lowered their target price for the company from $47.00 to $43.00 in a report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $43.00.
Shares of NYSE:HNI opened at $36.71 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 0.84. The stock has a market cap of $1.58 billion, a P/E ratio of 15.23 and a beta of 1.28. HNI has a 12-month low of $32.99 and a 12-month high of $45.40.
HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, April 22nd. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $479.50 million during the quarter, compared to the consensus estimate of $485.33 million. HNI had a return on equity of 18.89% and a net margin of 4.12%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. On average, sell-side analysts forecast that HNI will post 2.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 3.32%. This is a boost from HNI’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, May 16th. HNI’s dividend payout ratio (DPR) is 48.96%.
In related news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $42.09, for a total transaction of $210,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in HNI. Vanguard Group Inc. lifted its stake in HNI by 1.7% during the third quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock worth $180,483,000 after purchasing an additional 66,967 shares during the last quarter. New York State Common Retirement Fund lifted its stake in HNI by 52.6% during the fourth quarter. New York State Common Retirement Fund now owns 148,200 shares of the business services provider’s stock worth $5,251,000 after purchasing an additional 51,100 shares during the last quarter. Bank of Montreal Can lifted its stake in HNI by 19.1% during the fourth quarter. Bank of Montreal Can now owns 5,052 shares of the business services provider’s stock worth $179,000 after purchasing an additional 811 shares during the last quarter. Stone Ridge Asset Management LLC lifted its stake in HNI by 62.7% during the fourth quarter. Stone Ridge Asset Management LLC now owns 37,850 shares of the business services provider’s stock worth $1,341,000 after purchasing an additional 14,591 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new stake in HNI during the fourth quarter worth approximately $1,525,000. Institutional investors and hedge funds own 72.50% of the company’s stock.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
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