HNI (NYSE:HNI) PT Raised to $63.00

HNI (NYSE:HNI) had its price target upped by Benchmark from $57.00 to $63.00 in a research report released on Friday, Benzinga reports. Benchmark currently has a buy rating on the business services provider’s stock.

HNI Price Performance

NYSE:HNI opened at $54.39 on Friday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 40.29, a P/E/G ratio of 1.47 and a beta of 0.86. HNI has a 52-week low of $27.92 and a 52-week high of $54.77. The stock has a fifty day moving average of $45.93 and a 200 day moving average of $44.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. The company had revenue of $623.70 million during the quarter, compared to analyst estimates of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. On average, research analysts expect that HNI will post 3.1 EPS for the current fiscal year.

HNI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $0.33 per share. This is a positive change from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.32 annualized dividend and a yield of 2.43%. HNI’s dividend payout ratio (DPR) is currently 97.78%.

Insider Buying and Selling at HNI

In other HNI news, VP Steven M. Bradford sold 11,237 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.35, for a total transaction of $543,308.95. Following the sale, the vice president now owns 61,642 shares in the company, valued at $2,980,390.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HNI news, VP Donna D. Meade sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $45.97, for a total transaction of $459,700.00. Following the sale, the vice president now owns 32,308 shares in the company, valued at $1,485,198.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven M. Bradford sold 11,237 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.35, for a total value of $543,308.95. Following the sale, the vice president now owns 61,642 shares in the company, valued at approximately $2,980,390.70. The disclosure for this sale can be found here. Insiders have sold 46,080 shares of company stock worth $2,224,126 over the last 90 days. Corporate insiders own 3.36% of the company’s stock.

Institutional Investors Weigh In On HNI

A number of large investors have recently added to or reduced their stakes in HNI. USA Financial Formulas purchased a new position in shares of HNI in the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC purchased a new position in shares of HNI in the fourth quarter worth about $42,000. Northwest Financial Advisors purchased a new position in shares of HNI in the fourth quarter worth about $134,000. Daiwa Securities Group Inc. purchased a new position in shares of HNI in the first quarter worth about $202,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of HNI in the fourth quarter worth about $216,000. 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.