HNI (NYSE:HNI) Sets New 12-Month Low – What’s Next?

HNI Corporation (NYSE:HNI)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $38.44 and last traded at $38.86, with a volume of 521820 shares traded. The stock had previously closed at $39.04.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Benchmark reissued a “buy” rating on shares of HNI in a research report on Wednesday, October 29th. Finally, Weiss Ratings upgraded shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

HNI Stock Performance

The company has a market cap of $1.79 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.58 and a beta of 0.96. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $43.60 and its 200 day moving average price is $46.15.

HNI (NYSE:HNI) last released its earnings results on Tuesday, October 28th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. HNI had a net margin of 5.46% and a return on equity of 20.33%. The firm had revenue of $683.80 million during the quarter, compared to the consensus estimate of $688.64 million. During the same period in the previous year, the firm earned $1.03 earnings per share. HNI’s revenue was up 1.7% compared to the same quarter last year. On average, analysts expect that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. HNI’s dividend payout ratio (DPR) is 45.64%.

Institutional Investors Weigh In On HNI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in shares of HNI in the 1st quarter valued at about $26,000. Triumph Capital Management purchased a new position in HNI in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd lifted its position in HNI by 88.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. GAMMA Investing LLC grew its stake in HNI by 44.1% during the second quarter. GAMMA Investing LLC now owns 774 shares of the business services provider’s stock worth $38,000 after buying an additional 237 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of HNI by 433.7% in the third quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock worth $52,000 after acquiring an additional 902 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

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.