HNI (NYSE:HNI) Sets New 12-Month Low – Here’s Why

HNI Corporation (NYSE:HNI) shares hit a new 52-week low on Monday . The company traded as low as $38.99 and last traded at $39.6990, with a volume of 588549 shares changing hands. The stock had previously closed at $39.78.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Benchmark reiterated a “buy” rating on shares of HNI in a research report on Wednesday, October 29th. Finally, Weiss Ratings raised HNI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

HNI Price Performance

The stock has a market capitalization of $1.81 billion, a PE ratio of 13.24, a P/E/G ratio of 0.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.93 and a current ratio of 1.33. The company’s fifty day simple moving average is $44.53 and its two-hundred day simple moving average is $46.31.

HNI (NYSE:HNI) last released its quarterly earnings results on Tuesday, October 28th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. HNI had a net margin of 5.46% and a return on equity of 20.33%. The business had revenue of $683.80 million for the quarter, compared to analyst estimates of $688.64 million. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that HNI Corporation will post 3.6 EPS for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. HNI’s payout ratio is 45.64%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cooke & Bieler LP purchased a new position in HNI in the 3rd quarter valued at about $28,744,000. Millennium Management LLC acquired a new position in shares of HNI in the first quarter valued at approximately $10,666,000. Jones Financial Companies Lllp lifted its stake in shares of HNI by 196,733.6% during the first quarter. Jones Financial Companies Lllp now owns 234,232 shares of the business services provider’s stock valued at $10,388,000 after buying an additional 234,113 shares during the period. Jane Street Group LLC acquired a new stake in HNI during the first quarter worth approximately $10,301,000. Finally, Nuveen LLC purchased a new stake in HNI in the 1st quarter worth approximately $8,309,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.