HNI Corporation (NYSE:HNI) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Tuesday.

HNI has been the topic of a number of other research reports. Zacks Investment Research downgraded HNI Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Sidoti raised HNI Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 28th. Finally, BidaskClub downgraded HNI Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. HNI Corporation presently has an average rating of “Hold” and a consensus price target of $47.00.

HNI Corporation (NYSE HNI) opened at 38.31 on Tuesday. The stock’s 50 day moving average price is $43.11 and its 200 day moving average price is $47.51. HNI Corporation has a one year low of $37.24 and a one year high of $56.96. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 22.16 and a beta of 1.45.

HNI Corporation (NYSE:HNI) last released its quarterly earnings data on Wednesday, April 19th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.04. HNI Corporation had a return on equity of 23.02% and a net margin of 3.60%. The business had revenue of $477.70 million for the quarter, compared to the consensus estimate of $470.07 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that HNI Corporation will post $2.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 19th were paid a $0.285 dividend. This is an increase from HNI Corporation’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, May 17th. This represents a $1.14 dividend on an annualized basis and a yield of 2.98%. HNI Corporation’s payout ratio is presently 65.90%.

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In other news, Chairman Stanley A. Askren sold 5,400 shares of HNI Corporation stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $46.00, for a total value of $248,400.00. Following the completion of the transaction, the chairman now owns 209,792 shares in the company, valued at approximately $9,650,432. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Stanley A. Askren sold 11,264 shares of HNI Corporation stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $46.01, for a total value of $518,256.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,928 shares of company stock worth $1,284,913. Corporate insiders own 5.16% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in shares of HNI Corporation during the first quarter worth approximately $284,000. Paloma Partners Management Co bought a new position in shares of HNI Corporation during the first quarter worth approximately $931,000. AQR Capital Management LLC boosted its position in shares of HNI Corporation by 320.7% in the first quarter. AQR Capital Management LLC now owns 196,911 shares of the business services provider’s stock worth $9,076,000 after buying an additional 150,104 shares during the period. Gotham Asset Management LLC boosted its position in shares of HNI Corporation by 53.6% in the first quarter. Gotham Asset Management LLC now owns 52,414 shares of the business services provider’s stock worth $2,416,000 after buying an additional 18,299 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in shares of HNI Corporation during the first quarter worth approximately $5,147,000. Hedge funds and other institutional investors own 70.61% of the company’s stock.

HNI Corporation Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

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