HNI (NYSE:HNI) Issues Quarterly Earnings Results

HNI (NYSE:HNI) posted its quarterly earnings data on Wednesday. The business services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.08), FiscalAI reports. HNI had a net margin of 5.46% and a return on equity of 20.33%. During the same quarter last year, the company posted $0.87 EPS. The company’s quarterly revenue was up 38.3% compared to the same quarter last year.

HNI Stock Down 7.7%

NYSE HNI traded down $3.75 during trading hours on Wednesday, hitting $44.82. The company had a trading volume of 179,201 shares, compared to its average volume of 505,373. The firm’s 50 day moving average is $46.51 and its 200 day moving average is $44.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.33 and a quick ratio of 0.85. HNI has a fifty-two week low of $38.03 and a fifty-two week high of $53.29. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.60 and a beta of 0.94.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Monday, March 2nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, March 2nd. HNI’s dividend payout ratio is 45.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HNI shares. Wall Street Zen lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings raised HNI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 3rd. Finally, Benchmark reissued a “buy” rating on shares of HNI in a research report on Friday, January 16th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.00.

Institutional Investors Weigh In On HNI

Large investors have recently modified their holdings of the stock. Entropy Technologies LP boosted its stake in HNI by 10.5% during the 4th quarter. Entropy Technologies LP now owns 15,935 shares of the business services provider’s stock valued at $670,000 after acquiring an additional 1,508 shares during the last quarter. New York State Common Retirement Fund boosted its position in HNI by 31.7% during the 4th quarter. New York State Common Retirement Fund now owns 21,301 shares of the business services provider’s stock valued at $895,000 after purchasing an additional 5,125 shares during the period. Triumph Capital Management acquired a new position in shares of HNI during the third quarter valued at $28,000. State of Tennessee Department of Treasury grew its position in HNI by 14.2% in the 2nd quarter. State of Tennessee Department of Treasury now owns 31,132 shares of the business services provider’s stock worth $1,531,000 after purchasing an additional 3,866 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in HNI by 23.6% in the 1st quarter. Intech Investment Management LLC now owns 36,698 shares of the business services provider’s stock worth $1,628,000 after buying an additional 7,000 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About HNI

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.