HNI (NYSE:HNI) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

HNI Corporation (NYSE:HNI) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $47.28 and traded as high as $50.18. HNI shares last traded at $49.8570, with a volume of 667,050 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HNI shares. Weiss Ratings raised HNI from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Wells Fargo & Company set a $65.00 price target on HNI in a report on Wednesday, July 15th. Benchmark reissued a “buy” rating on shares of HNI in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded HNI from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, HNI presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

HNI Price Performance

The business’s fifty day moving average is $47.28 and its 200-day moving average is $42.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.33 and a quick ratio of 0.88. The firm has a market cap of $3.60 billion, a PE ratio of 113.31, a P/E/G ratio of 0.78 and a beta of 0.94.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.39 by $0.23. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.60 billion. HNI had a net margin of 1.00% and a return on equity of 15.39%. The company’s revenue for the quarter was up 132.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, research analysts predict that HNI Corporation will post 4.35 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, August 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.8%. HNI’s dividend payout ratio (DPR) is presently 318.18%.

Insider Activity at HNI

In related news, CEO Jeffrey Lorenger sold 1,504 shares of HNI stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $50.00, for a total value of $75,200.00. Following the sale, the chief executive officer owned 148,490 shares of the company’s stock, valued at approximately $7,424,500. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 49,288 shares of company stock valued at $2,468,419. Insiders own 2.15% of the company’s stock.

Institutional Trading of HNI

Large investors have recently bought and sold shares of the company. Reyes Financial Architecture Inc. bought a new stake in shares of HNI in the third quarter valued at $33,000. Nykredit A S purchased a new position in shares of HNI during the 2nd quarter valued at $36,000. Fortitude Family Office LLC bought a new position in shares of HNI during the 3rd quarter worth $39,000. Allworth Financial LP bought a new position in shares of HNI during the 2nd quarter worth $50,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of HNI during the 2nd quarter worth $78,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

About HNI

HNI Corporation is a workplace furnishings and residential building products company. Its workplace furnishings business designs and manufactures office furniture and related products for businesses, government organizations, educational institutions and other customers.

Its portfolio includes brands such as HON, Allsteel and Gunlocke, with products ranging from office seating and desks to workstations and storage. HNI also makes fireplaces, stoves and related hearth products through brands including Heat & Glo, Heatilator, Majestic, Harman and Quadra-Fire.

Founded in 1947 and headquartered in Muscatine, Iowa, HNI serves customers primarily in North America, as well as in other markets.