According to Zacks, “HNI Corp has two reportable core operating segments: office furniture and hearth products. They are the second largest office furniture manufacturer in the United States and the nation’s leading manufacturer and marketer of gas- and wood-burning fireplaces. “
Separately, Raymond James Financial Inc. lowered HNI Corp. from an outperform rating to a market perform rating in a research note on Tuesday, September 20th.
Shares of HNI Corp. (NYSE:HNI) opened at 39.97 on Wednesday. The firm has a market cap of $1.78 billion, a P/E ratio of 15.91 and a beta of 1.40. The firm has a 50-day moving average price of $52.57 and a 200 day moving average price of $46.26. HNI Corp. has a one year low of $29.84 and a one year high of $56.96.
HNI Corp. (NYSE:HNI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. On average, analysts forecast that HNI Corp. will post $2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 19th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, August 17th. HNI Corp.’s payout ratio is 43.82%.
In related news, insider Jerald K. Dittmer sold 8,200 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $55.89, for a total transaction of $458,298.00. Following the transaction, the insider now owns 29,619 shares of the company’s stock, valued at approximately $1,655,405.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $52.20, for a total value of $1,904,412.60. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of HNI Corp. during the first quarter valued at $222,000. Prudential Financial Inc. increased its stake in shares of HNI Corp. by 50.7% in the first quarter. Prudential Financial Inc. now owns 52,937 shares of the company’s stock valued at $2,074,000 after buying an additional 17,800 shares during the period. BlackRock Inc. increased its stake in shares of HNI Corp. by 7.8% in the first quarter. BlackRock Inc. now owns 17,501 shares of the company’s stock valued at $685,000 after buying an additional 1,265 shares during the period. BlackRock Group LTD increased its stake in shares of HNI Corp. by 21.3% in the first quarter. BlackRock Group LTD now owns 32,074 shares of the company’s stock valued at $1,257,000 after buying an additional 5,638 shares during the period. Finally, Menta Capital LLC increased its stake in shares of HNI Corp. by 19.5% in the first quarter. Menta Capital LLC now owns 31,948 shares of the company’s stock valued at $1,251,000 after buying an additional 5,217 shares during the period. 68.01% of the stock is currently owned by hedge funds and other institutional investors.
HNI Corp. Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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