HNI (NYSE:HNI) Hits New 52-Week Low – Here’s What Happened

HNI Corporation (NYSE:HNI) reached a new 52-week low during trading on Tuesday . The company traded as low as $31.38 and last traded at $31.5120, with a volume of 98423 shares trading hands. The stock had previously closed at $32.44.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HNI shares. Wall Street Zen lowered shares of HNI from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Benchmark cut their price target on shares of HNI from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of HNI from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

HNI Stock Down 2.2%

The stock’s fifty day moving average is $36.90 and its two-hundred day moving average is $41.60. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.26 billion, a PE ratio of 77.15, a P/E/G ratio of 0.42 and a beta of 1.01.

HNI (NYSE:HNI) last announced its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The company’s revenue for the quarter was up 124.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, analysts predict that HNI Corporation will post 4 EPS for the current year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, March 2nd. HNI’s dividend payout ratio is 331.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Triumph Capital Management bought a new position in shares of HNI during the 3rd quarter worth $28,000. Versant Capital Management Inc lifted its holdings in HNI by 433.7% during the third quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 902 shares during the last quarter. GAMMA Investing LLC boosted its position in HNI by 59.9% during the fourth quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock worth $51,000 after purchasing an additional 458 shares during the period. Nations Financial Group Inc. IA ADV purchased a new position in shares of HNI in the third quarter worth about $203,000. Finally, Equitable Trust Co. increased its stake in shares of HNI by 22.5% in the third quarter. Equitable Trust Co. now owns 7,520 shares of the business services provider’s stock worth $352,000 after purchasing an additional 1,380 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.