HNI (NYSE:HNI) Reaches New 52-Week Low – Should You Sell?

HNI Corporation (NYSE:HNI)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $31.38 and last traded at $31.5120, with a volume of 98423 shares traded. The stock had previously closed at $32.44.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HNI. Benchmark decreased their price target on shares of HNI from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Weiss Ratings cut shares of HNI from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of HNI from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, HNI presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

HNI Price Performance

The company has a market cap of $2.26 billion, a price-to-earnings ratio of 77.18, a PEG ratio of 0.40 and a beta of 1.01. 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 company’s 50 day moving average price is $36.12 and its 200 day moving average price is $41.32.

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

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Monday, March 2nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, March 2nd. HNI’s dividend payout ratio (DPR) is 331.71%.

Institutional Trading of HNI

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of HNI by 59.9% in the 4th quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 458 shares in the last quarter. Triumph Capital Management purchased a new position in shares of HNI in the 3rd quarter valued at about $28,000. SG Americas Securities LLC increased its holdings in shares of HNI by 4.0% in the 3rd quarter. SG Americas Securities LLC now owns 15,938 shares of the business services provider’s stock valued at $747,000 after purchasing an additional 608 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of HNI by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 802 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of HNI by 433.7% in the 3rd quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 902 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Company Profile

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.