HNI (NYSE:HNI) Sets New 1-Year Low – Here’s Why

HNI Corporation (NYSE:HNI)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $32.16 and last traded at $32.0070, with a volume of 814346 shares traded. The stock had previously closed at $32.47.

Analysts Set New Price Targets

Several research firms have recently issued reports on HNI. Benchmark restated a “buy” rating on shares of HNI in a report on Friday, January 16th. Weiss Ratings downgraded shares of HNI from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of HNI from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

HNI Stock Performance

The company has a market cap of $2.30 billion, a P/E ratio of 25.81, a P/E/G ratio of 0.39 and a beta of 1.02. The firm’s fifty day moving average price is $42.86 and its 200-day moving average price is $43.03. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.70.

HNI (NYSE:HNI) last posted its earnings results on Wednesday, February 25th. The business services provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.08). The business had revenue of $888.40 million during the quarter, compared to the consensus estimate of $693.78 million. HNI had a net margin of 1.91% and a return on equity of 15.80%. The business’s revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. As a group, research analysts forecast that HNI Corporation will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Monday, March 2nd were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 4.2%. HNI’s payout ratio is presently 108.80%.

Institutional Trading of HNI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNI. Cooke & Bieler LP bought a new stake in HNI in the third quarter valued at about $28,744,000. Millennium Management LLC bought a new stake in HNI in the first quarter valued at about $10,666,000. Jane Street Group LLC bought a new stake in HNI in the first quarter valued at about $10,301,000. SG Americas Securities LLC increased its stake in HNI by 167.4% in the fourth quarter. SG Americas Securities LLC now owns 42,621 shares of the business services provider’s stock valued at $1,792,000 after acquiring an additional 26,683 shares during the period. Finally, Entropy Technologies LP bought a new stake in HNI in the third quarter valued at about $676,000. Institutional investors 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.