HNI (NYSE:HNI) Lowered to Buy at StockNews.com

StockNews.com lowered shares of HNI (NYSE:HNIGet Rating) from a strong-buy rating to a buy rating in a report published on Saturday morning.

A number of other research analysts have also recently commented on HNI. TheStreet upgraded shares of HNI from a c+ rating to a b- rating in a report on Monday, June 27th. Sidoti cut shares of HNI from a buy rating to a neutral rating and set a $38.00 target price on the stock. in a report on Monday, August 1st.

HNI Trading Down 1.0 %

NYSE HNI opened at $34.07 on Friday. The company’s 50-day moving average price is $35.43 and its 200-day moving average price is $37.32. The company has a current ratio of 1.27, a quick ratio of 0.81 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.41 billion, a PE ratio of 20.40 and a beta of 0.86. HNI has a 12 month low of $32.91 and a 12 month high of $44.50.

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

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Friday, May 27th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.76%. This is a boost from HNI’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 26th. HNI’s dividend payout ratio is presently 76.65%.

Insiders Place Their Bets

In other news, Director Larry B. Porcellato sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $36.10, for a total value of $54,150.00. Following the sale, the director now directly owns 43,018 shares in the company, valued at approximately $1,552,949.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by company insiders.

Institutional Trading of HNI

Institutional investors have recently modified their holdings of the company. Guardian Wealth Management Inc. purchased a new position in shares of HNI in the 4th quarter valued at approximately $27,000. Point72 Hong Kong Ltd purchased a new position in shares of HNI in the 4th quarter valued at approximately $63,000. Cornerstone Advisory LLC purchased a new position in shares of HNI in the 4th quarter valued at approximately $68,000. Parallel Advisors LLC raised its position in shares of HNI by 988.5% in the 1st quarter. Parallel Advisors LLC now owns 2,275 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 2,066 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of HNI by 459.6% in the 1st quarter. Royal Bank of Canada now owns 2,675 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 2,197 shares during the last quarter. 72.97% of the stock is currently owned by institutional investors.

HNI Company Profile

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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.

Further Reading

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