HNI (NYSE:HNI) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• HNI Corporation shares crossed above their 200-day moving average, reaching a trading high of $46.54, indicating a potential bullish trend for the stock.
• The company reported a quarterly earnings per share (EPS) of $1.11, surpassing estimates of $0.86, with a 7.0% increase in revenue year-over-year, reaching $667.10 million.
• HNI recently declared a quarterly dividend of $0.34 per share, with a resulting yield of 2.9% and a payout ratio of 44.16%.

HNI Corporation (NYSE:HNI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.08 and traded as high as $46.54. HNI shares last traded at $46.52, with a volume of 1,005,763 shares traded.

HNI Price Performance

The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.13 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.65 and a beta of 0.94. The business's fifty day moving average price is $46.15 and its 200-day moving average price is $46.08.

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

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 22nd were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.36 annualized dividend and a yield of 2.9%. HNI's payout ratio is currently 44.16%.

Insiders Place Their Bets

In other HNI news, Director Miguel M. Calado sold 1,743 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $53.00, for a total value of $92,379.00. Following the completion of the sale, the director directly owned 30,085 shares of the company's stock, valued at $1,594,505. The trade was a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.37% of the stock is owned by corporate insiders.

Institutional Trading of HNI

A number of institutional investors have recently modified their holdings of HNI. Jefferies Financial Group Inc. bought a new position in HNI in the first quarter worth about $365,000. Harbor Capital Advisors Inc. bought a new position in HNI in the first quarter worth about $535,000. Nuveen LLC bought a new position in HNI in the first quarter worth about $8,309,000. Jane Street Group LLC bought a new position in HNI in the first quarter worth about $10,301,000. Finally, Flagship Harbor Advisors LLC raised its stake in HNI by 22.2% in the first quarter. Flagship Harbor Advisors LLC now owns 5,771 shares of the business services provider's stock worth $256,000 after buying an additional 1,047 shares in 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.

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