HNI (NYSE:HNI) Shares Cross Above 200 Day Moving Average – Should You Sell?

HNI Corporation (NYSE:HNI)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.47 and traded as high as $42.24. HNI shares last traded at $40.3030, with a volume of 630,826 shares.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HNI shares. Weiss Ratings lowered HNI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Benchmark cut their price target on HNI from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.00.

HNI Price Performance

The firm has a market capitalization of $2.78 billion, a PE ratio of 95.30, a P/E/G ratio of 0.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 1.39. The stock has a fifty day moving average price of $34.13 and a 200-day moving average price of $39.42.

HNI (NYSE:HNI) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. HNI had a return on equity of 13.17% and a net margin of 0.04%.The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 124.7% on a year-over-year basis. Sell-side analysts forecast that HNI Corporation will post 4 EPS for the current fiscal year.

HNI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 29th were issued a $0.35 dividend. This is an increase from HNI’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, May 29th. HNI’s dividend payout ratio is presently 341.46%.

Institutional Trading of HNI

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in HNI by 20.5% during the 1st 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 in the last quarter. AQR Capital Management LLC boosted its holdings in HNI by 6.3% in the first quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider’s stock worth $600,000 after acquiring an additional 802 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of HNI by 4.8% during 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 acquiring an additional 1,290 shares during the last quarter. Millennium Management LLC acquired a new position in shares of HNI during the first quarter valued at about $10,666,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of HNI by 7.3% during the first 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 valued at $6,311,000 after acquiring an additional 9,730 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.