HNI (NYSE:HNI) Price Target Raised to $54.00 at Benchmark

HNI (NYSE:HNI) had its price target boosted by Benchmark from $50.00 to $54.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, StockNews.com downgraded shares of HNI from a strong-buy rating to a buy rating in a research report on Friday, March 8th.

HNI Stock Down 2.5 %

Shares of HNI opened at $41.92 on Tuesday. HNI has a one year low of $24.81 and a one year high of $45.47. The company has a market cap of $1.98 billion, a P/E ratio of 41.10, a P/E/G ratio of 1.21 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $43.27 and a two-hundred day simple moving average of $41.02.

HNI (NYSE:HNI) last announced its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. HNI had a net margin of 2.03% and a return on equity of 16.97%. The business had revenue of $588.00 million during the quarter, compared to the consensus estimate of $574.56 million. During the same period in the previous year, the business earned $0.13 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. Research analysts forecast that HNI will post 2.93 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.28 annualized dividend and a dividend yield of 3.05%. HNI’s dividend payout ratio (DPR) is presently 125.49%.

Insider Transactions at HNI

In other news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the completion of the transaction, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the completion of the transaction, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the sale, 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 ninety days, insiders sold 17,374 shares of company stock worth $749,534. Corporate insiders own 3.36% of the company’s stock.

Institutional Trading of HNI

Several institutional investors have recently modified their holdings of HNI. SG Americas Securities LLC bought a new stake in shares of HNI in the third quarter worth $957,000. Handelsbanken Fonder AB grew its stake in shares of HNI by 24.4% in the third quarter. Handelsbanken Fonder AB now owns 9,726 shares of the business services provider’s stock worth $337,000 after purchasing an additional 1,910 shares during the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of HNI in the third quarter worth $291,000. New York State Teachers Retirement System grew its stake in shares of HNI by 2.8% in the third quarter. New York State Teachers Retirement System now owns 82,910 shares of the business services provider’s stock worth $2,871,000 after purchasing an additional 2,257 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of HNI by 145.6% in the third quarter. Inspire Investing LLC now owns 27,438 shares of the business services provider’s stock worth $950,000 after purchasing an additional 16,268 shares during the last quarter. 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.