HNI Corporation (NYSE:HNI) Short Interest Update

Key Points

• HNI Corporation experienced a significant increase in short interest, with a rise of 337.3% in August, reaching a total of 2,890,000 shares.
• Analysts have given HNI a consensus rating of "Moderate Buy" with a target price averaging $75.00, following positive earnings results reported in July.
• The company announced a quarterly dividend of $0.34 per share, reflecting a 3.0% dividend yield, with a payout ratio of 44.16%.

HNI Corporation (NYSE:HNI - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 2,890,000 shares, agrowthof337.3% from the July 31st total of 660,900 shares. Based on an average trading volume of 482,100 shares, the days-to-cover ratio is presently 6.0 days. Based on an average trading volume of 482,100 shares, the days-to-cover ratio is presently 6.0 days.

Wall Street Analysts Forecast Growth

HNI has been the topic of several research analyst reports. Susquehanna started coverage on shares of HNI in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Longbow Research started coverage on HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price target for the company. Finally, Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, HNI currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

HNI Trading Down 0.3%

Shares of NYSE:HNI traded down $0.12 during midday trading on Wednesday, reaching $44.85. The company had a trading volume of 200,248 shares, compared to its average volume of 406,918. HNI has a 1-year low of $39.76 and a 1-year high of $58.42. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 0.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46. The company has a fifty day simple moving average of $48.18 and a two-hundred day simple moving average of $46.15.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.25. HNI had a return on equity of 20.08% and a net margin of 5.73%.The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $646.49 million. During the same period in the previous year, the company earned $0.79 EPS. The firm's revenue was up 7.0% on a year-over-year basis. Research analysts predict that HNI will post 3.6 earnings per share for the current year.

HNI Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. HNI's payout ratio is presently 44.16%.

Insider Buying and Selling at HNI

In other HNI news, insider Jason Dean Hagedorn sold 1,440 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $47.07, for a total transaction of $67,780.80. Following the sale, the insider directly owned 36,711 shares in the company, valued at $1,727,986.77. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director directly owned 30,085 shares in the company, valued at approximately $1,594,505. This trade represents a 5.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,383 shares of company stock worth $270,818. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HNI

Several large investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in shares of HNI during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of HNI by 88.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock valued at $31,000 after buying an additional 331 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of HNI by 44.1% during the second quarter. GAMMA Investing LLC now owns 774 shares of the business services provider's stock worth $38,000 after purchasing an additional 237 shares during the period. Quarry LP increased its stake in HNI by 4,741.5% during the 1st quarter. Quarry LP now owns 1,985 shares of the business services provider's stock worth $88,000 after acquiring an additional 1,944 shares during the period. Finally, Allworth Financial LP increased its stake in HNI by 3,984.9% during the 1st quarter. Allworth Financial LP now owns 2,165 shares of the business services provider's stock worth $92,000 after acquiring an additional 2,112 shares during the period. 75.26% of the stock is currently owned by 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.

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