HNI Corporation (NYSE:HNI) Reaches New 12-Month Low at $35.40

HNI Corporation (NYSE:HNI)’s share price reached a new 52-week low on Friday . The company traded as low as $35.40 and last traded at $35.32, with a volume of 158,410 shares traded. The stock had previously closed at $35.67.

A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Finally, TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.00.

The firm has a 50-day moving average price of $38.48 and a 200 day moving average price of $43.74. The company has a market capitalization of $1.56 billion, a PE ratio of 25.40 and a beta of 1.41.

HNI Corporation (NYSE:HNI) last announced its earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.01. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The business had revenue of $514.50 million for the quarter, compared to analyst estimates of $516.10 million. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts expect that HNI Corporation will post $2.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.14 annualized dividend and a yield of 3.20%. HNI Corporation’s dividend payout ratio (DPR) is presently 81.43%.

In other HNI Corporation news, Chairman Stanley A. Askren sold 11,264 shares of HNI Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $46.01, for a total transaction of $518,256.64. Following the sale, the chairman now owns 204,996 shares of the company’s stock, valued at approximately $9,431,865.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.16% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of HNI Corporation during the fourth quarter valued at about $391,000. Teachers Advisors LLC boosted its stake in shares of HNI Corporation by 33.4% in the fourth quarter. Teachers Advisors LLC now owns 113,950 shares of the business services provider’s stock valued at $6,372,000 after buying an additional 28,524 shares during the period. Bank of Montreal Can boosted its stake in shares of HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after buying an additional 1,030 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of HNI Corporation by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock valued at $512,000 after buying an additional 100 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of HNI Corporation during the first quarter valued at about $4,564,000. 70.93% of the stock is currently owned by institutional investors.

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About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line 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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