HNI Co. (NYSE:HNI) Sees Large Decrease in Short Interest

HNI Co. (NYSE:HNI) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,190,000 shares, a decrease of 6.3% from the January 15th total of 1,270,000 shares. Based on an average daily volume of 336,600 shares, the days-to-cover ratio is presently 3.5 days.

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the sale, the director now directly owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.36% of the company’s stock.

Institutional Trading of HNI

Institutional investors and hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new stake in shares of HNI during the third quarter valued at $27,000. Smartleaf Asset Management LLC lifted its stake in HNI by 85.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 258 shares during the period. Covestor Ltd boosted its holdings in shares of HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 508 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of HNI by 649.1% in the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock worth $41,000 after acquiring an additional 701 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of HNI during the fourth quarter valued at approximately $55,000. Institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st.

HNI Stock Up 0.9 %

Shares of NYSE:HNI traded up $0.43 during trading on Monday, reaching $50.03. 237,779 shares of the stock traded hands, compared to its average volume of 254,901. The stock has a market cap of $2.39 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The stock has a 50-day moving average of $50.29 and a two-hundred day moving average of $52.08. HNI has a 52-week low of $40.94 and a 52-week high of $58.42.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 2.64%. HNI’s dividend payout ratio is 51.16%.

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.