HNI (NYSE:HNI) Reaches New 12-Month Low – Here’s What Happened

HNI Co. (NYSE:HNI)’s stock price reached a new 52-week low 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.

Wall Street Analyst Weigh In

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

HNI Price Performance

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 firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.14 and a beta of 0.78. The company’s 50 day moving average is $46.47 and its 200-day moving average is $50.56.

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

HNI Announces Dividend

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

Insider Transactions at HNI

In related news, insider Brian Scott Smith sold 556 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HNI

A number of institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in HNI by 38.3% during the 4th quarter. Mackenzie Financial Corp now owns 31,153 shares of the business services provider’s stock worth $1,569,000 after purchasing an additional 8,620 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of HNI by 10.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,560 shares of the business services provider’s stock worth $6,677,000 after buying an additional 12,086 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of HNI by 26.3% in the fourth quarter. Two Sigma Advisers LP now owns 12,468 shares of the business services provider’s stock valued at $628,000 after acquiring an additional 2,600 shares during the period. Systematic Financial Management LP grew its stake in shares of HNI by 1.8% in the fourth quarter. Systematic Financial Management LP now owns 474,140 shares of the business services provider’s stock valued at $23,882,000 after acquiring an additional 8,303 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in HNI during the fourth quarter worth about $2,518,000. Institutional investors own 75.26% of the company’s stock.

About HNI

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.