HNI (NYSE:HNI) Hits New 12-Month High at $45.54

Shares of HNI Co. (NYSE:HNI - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $45.54 and last traded at $45.26, with a volume of 12002 shares traded. The stock had previously closed at $45.35.

Analyst Ratings Changes

Several equities analysts recently commented on HNI shares. Benchmark increased their target price on HNI from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. StockNews.com lowered HNI from a "strong-buy" rating to a "buy" rating in a report on Friday, March 8th.

HNI Stock Up 1.3 %

The stock has a market cap of $2.17 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 1.19 and a beta of 0.87. The firm has a fifty day moving average of $43.36 and a 200 day moving average of $41.35. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.61.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.19. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. The business's quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that HNI Co. will post 3.1 EPS for the current fiscal year.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, February 23rd. HNI's payout ratio is 94.81%.

Insiders Place Their Bets

In other HNI news, Director Mary A. Bell sold 2,898 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $43.13, for a total transaction of $124,990.74. Following the transaction, the director now owns 76,183 shares of the company's stock, valued at $3,285,772.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mary A. Bell sold 2,898 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $43.13, for a total transaction of $124,990.74. Following the transaction, the director now owns 76,183 shares of the company's stock, valued at $3,285,772.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $44.00, for a total value of $88,000.00. Following the transaction, the director now directly owns 40,718 shares in the company, valued at approximately $1,791,592. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,374 shares of company stock valued at $749,534. 3.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HNI

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC acquired a new stake in HNI in the first quarter valued at about $2,623,000. State Board of Administration of Florida Retirement System lifted its position in HNI by 27.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,855 shares of the business services provider's stock valued at $761,000 after purchasing an additional 3,671 shares during the period. Russell Investments Group Ltd. lifted its position in HNI by 30.4% in the first quarter. Russell Investments Group Ltd. now owns 47,936 shares of the business services provider's stock valued at $2,163,000 after purchasing an additional 11,168 shares during the period. Clifford Capital Partners LLC lifted its position in HNI by 2.3% in the first quarter. Clifford Capital Partners LLC now owns 254,380 shares of the business services provider's stock valued at $11,480,000 after purchasing an additional 5,611 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in HNI by 4.7% in the first quarter. Illinois Municipal Retirement Fund now owns 27,845 shares of the business services provider's stock valued at $1,257,000 after purchasing an additional 1,250 shares during the period. Hedge funds and other institutional investors own 75.26% of the company's stock.

About HNI

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.