HNI (NYSE:HNI) Announces Quarterly Earnings Results

HNI (NYSE:HNI - Get Free Report) issued its quarterly earnings data on Thursday. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.25, Briefing.com reports. HNI had a net margin of 5.73% and a return on equity of 20.08%. The firm had revenue of $667.10 million during the quarter, compared to analysts' expectations of $646.49 million. During the same period last year, the company earned $0.79 earnings per share. The business's revenue was up 7.0% on a year-over-year basis.

HNI Stock Performance

Shares of HNI stock traded up $0.17 during trading hours on Monday, hitting $52.49. 409,862 shares of the company's stock traded hands, compared to its average volume of 327,552. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.25 and a beta of 0.92. HNI has a 12-month low of $39.76 and a 12-month high of $58.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. The company has a fifty day simple moving average of $48.89 and a 200-day simple moving average of $46.87.

HNI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Friday, May 23rd. This is an increase from HNI's previous quarterly dividend of $0.33. HNI's dividend payout ratio is 44.16%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HNI shares. Susquehanna assumed coverage on HNI in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Longbow Research began coverage on shares of HNI in a report on Friday, May 16th. They set a "buy" rating and a $70.00 price target on the stock.

Insider Activity

In other news, insider Jason Dean Hagedorn sold 1,440 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $47.07, for a total transaction of $67,780.80. Following the completion of the transaction, the insider directly owned 36,711 shares of the company's stock, valued at $1,727,986.77. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Miguel M. Calado sold 2,000 shares of HNI stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of the sale, the director directly owned 31,828 shares in the company, valued at $1,591,400. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,383 shares of company stock valued at $270,818. 3.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in HNI by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider's stock valued at $600,000 after purchasing an additional 802 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HNI by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,239 shares of the business services provider's stock worth $1,252,000 after buying an additional 1,290 shares in the last quarter. Royal Bank of Canada boosted its stake in HNI by 20.5% during the first quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider's stock valued at $383,000 after buying an additional 1,472 shares during the period. Intech Investment Management LLC grew its position in HNI by 23.6% during the first quarter. Intech Investment Management LLC now owns 36,698 shares of the business services provider's stock worth $1,628,000 after buying an additional 7,000 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in HNI by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,290 shares of the business services provider's stock worth $6,311,000 after acquiring an additional 9,730 shares during the last quarter. 75.26% of the stock is currently 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.