HNI (NYSE:HNI) Hits New 1-Year Low - Time to Sell?

HNI Co. (NYSE:HNI - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $40.78 and last traded at $41.19, with a volume of 96417 shares. The stock had previously closed at $42.73.

Wall Street Analysts Forecast Growth

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

HNI Trading Up 7.4 %

The company has a market capitalization of $2.03 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average price is $45.59 and its two-hundred day moving average price is $50.18.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million during the quarter, compared to analyst estimates of $657.03 million. Sell-side analysts anticipate that HNI Co. will post 3.6 earnings per share for the current year.

Remove Ads

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.05%. The ex-dividend date was Monday, February 24th. HNI's dividend payout ratio is currently 45.67%.

Insider Activity

In related news, insider Brian Scott Smith sold 556 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares of the company's stock, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On HNI

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of HNI by 29.8% during the third quarter. BNP Paribas Financial Markets now owns 21,405 shares of the business services provider's stock valued at $1,152,000 after purchasing an additional 4,911 shares during the period. State Street Corp lifted its holdings in HNI by 1.1% during the 3rd quarter. State Street Corp now owns 1,876,542 shares of the business services provider's stock valued at $101,033,000 after buying an additional 20,717 shares in the last quarter. Jane Street Group LLC boosted its position in HNI by 64.0% in the 3rd quarter. Jane Street Group LLC now owns 72,922 shares of the business services provider's stock valued at $3,926,000 after buying an additional 28,459 shares during the period. Zacks Investment Management grew its stake in HNI by 12.6% in the 3rd quarter. Zacks Investment Management now owns 5,158 shares of the business services provider's stock worth $278,000 after acquiring an additional 578 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of HNI during the third quarter worth approximately $281,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

HNI Company Profile

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.