HNI (NYSE:HNI) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

HNI Co. (NYSE:HNI – Get Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as $57.90 and last traded at $57.90, with a volume of 495 shares. The stock had previously closed at $56.17.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Check Out Our Latest Analysis on HNI

HNI Trading Down 1.0 %

The company has a 50-day moving average price of $53.36 and a two-hundred day moving average price of $50.06. The stock has a market cap of $2.72 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.60 and a beta of 0.85. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI – Get Free Report) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, research analysts expect that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.32%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.36% of the company’s stock.

Institutional Investors Weigh In On HNI

Several large investors have recently added to or reduced their stakes in HNI. Eastern Bank bought a new stake in shares of HNI during the third quarter valued at approximately $27,000. Quest Partners LLC purchased a new position in HNI during the 2nd quarter worth $29,000. GAMMA Investing LLC raised its position in HNI by 51.6% during the 3rd quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 228 shares in the last quarter. Covestor Ltd lifted its holdings in shares of HNI by 219.9% in the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after buying an additional 508 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in shares of HNI during the 3rd quarter worth $84,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

About HNI

(Get Free Report)

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.

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