HNI (NYSE:HNI) Sets New 52-Week Low – What’s Next?

HNI Corporation (NYSE:HNI)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $29.65 and last traded at $29.9770, with a volume of 18111 shares. The stock had previously closed at $30.16.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HNI. Weiss Ratings cut HNI from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Benchmark dropped their price objective on HNI from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen cut HNI from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

HNI Trading Down 1.0%

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 firm has a market cap of $2.13 billion, a P/E ratio of 73.00, a PEG ratio of 0.37 and a beta of 1.01. The business has a 50 day moving average of $35.60 and a two-hundred day moving average of $41.11.

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

HNI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 29th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.7%. This is a boost from HNI’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, May 29th. HNI’s payout ratio is 331.71%.

Institutional Trading of HNI

Several large investors have recently bought and sold shares of HNI. Triumph Capital Management acquired a new stake in HNI in the third quarter valued at about $28,000. GAMMA Investing LLC boosted its stake in HNI by 59.9% in the fourth quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock valued at $51,000 after buying an additional 458 shares in the last quarter. Versant Capital Management Inc boosted its stake in HNI by 433.7% in the third quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock valued at $52,000 after buying an additional 902 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new stake in HNI in the third quarter valued at about $203,000. Finally, Equitable Trust Co. boosted its stake in HNI by 22.5% in the third quarter. Equitable Trust Co. now owns 7,520 shares of the business services provider’s stock valued at $352,000 after buying an additional 1,380 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

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.