HNI Co. (NYSE:HNI) Short Interest Update

HNI Co. (NYSE:HNI - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 735,800 shares, a decrease of 43.0% from the March 15th total of 1,290,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 374,500 shares, the days-to-cover ratio is presently 2.0 days.

HNI Trading Down 1.6 %

Shares of HNI stock traded down $0.64 during trading on Monday, hitting $40.56. 226,992 shares of the stock traded hands, compared to its average volume of 299,758. HNI has a 52-week low of $39.76 and a 52-week high of $58.42. The firm has a market capitalization of $1.91 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The firm's fifty day moving average price is $44.47 and its 200-day moving average price is $49.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68.

HNI (NYSE:HNI - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.13. The company had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. As a group, research analysts forecast that HNI will post 3.6 earnings per share for the current fiscal year.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Monday, February 24th. HNI's dividend payout ratio is presently 45.67%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of HNI from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st.

Insider Transactions at HNI

In related news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the transaction, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On HNI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider's stock valued at $28,000 after purchasing an additional 258 shares during the period. Sterling Capital Management LLC grew its position in HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after acquiring an additional 701 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in HNI in the 4th quarter valued at about $55,000. Meeder Asset Management Inc. purchased a new stake in HNI during the fourth quarter worth about $121,000. Finally, Vestcor Inc acquired a new stake in shares of HNI during the fourth quarter worth about $176,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

About HNI

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.