According to Zacks, “HNI Corporation provide products and solutions for the home and workplace environments. HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI Corporation sell the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI Corporation hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. “
Other equities research analysts have also recently issued reports about the company. Seaport Global Securities reiterated a neutral rating on shares of HNI in a research note on Wednesday, February 27th. TheStreet cut HNI from a b rating to a c+ rating in a research note on Monday, April 22nd. Finally, Sidoti cut HNI from a buy rating to a neutral rating and cut their price target for the company from $47.00 to $43.00 in a research note on Tuesday, February 26th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $43.00.
HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, April 22nd. The business services provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. HNI had a return on equity of 18.89% and a net margin of 4.12%. The company had revenue of $479.50 million during the quarter, compared to analysts’ expectations of $485.33 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict that HNI will post 2.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.305 dividend. This is a boost from HNI’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, May 16th. HNI’s payout ratio is 50.62%.
In related news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $42.09, for a total value of $210,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of HNI by 1.7% in the third quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock valued at $180,483,000 after buying an additional 66,967 shares during the period. New York State Common Retirement Fund lifted its stake in HNI by 52.6% during the fourth quarter. New York State Common Retirement Fund now owns 148,200 shares of the business services provider’s stock worth $5,251,000 after purchasing an additional 51,100 shares during the last quarter. Bank of Montreal Can lifted its stake in HNI by 19.1% during the fourth quarter. Bank of Montreal Can now owns 5,052 shares of the business services provider’s stock worth $179,000 after purchasing an additional 811 shares during the last quarter. Stone Ridge Asset Management LLC lifted its stake in HNI by 62.7% during the fourth quarter. Stone Ridge Asset Management LLC now owns 37,850 shares of the business services provider’s stock worth $1,341,000 after purchasing an additional 14,591 shares during the last quarter. Finally, Hancock Whitney Corp bought a new stake in HNI during the fourth quarter worth $1,525,000. Institutional investors and hedge funds own 72.76% of the company’s stock.
HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
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