Short Interest in HNI Co. (NYSE:HNI) Drops By 6.3%

HNI Co. (NYSE:HNI) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,190,000 shares, a drop of 6.3% from the January 15th total of 1,270,000 shares. Based on an average daily volume of 336,600 shares, the short-interest ratio is presently 3.5 days.

Analyst Ratings Changes

Separately, StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

Insider Buying and Selling

In related news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.36% of the stock is owned by company insiders.

Institutional Trading of HNI

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in HNI in the 4th quarter valued at $69,253,000. FMR LLC boosted its holdings in shares of HNI by 275.3% in the third quarter. FMR LLC now owns 1,836,205 shares of the business services provider’s stock valued at $98,861,000 after acquiring an additional 1,346,999 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of HNI during the fourth quarter worth about $8,897,000. Invesco Ltd. raised its holdings in HNI by 35.1% during the fourth quarter. Invesco Ltd. now owns 605,964 shares of the business services provider’s stock worth $30,522,000 after purchasing an additional 157,579 shares in the last quarter. Finally, Norges Bank acquired a new stake in HNI in the fourth quarter valued at about $7,076,000. 75.26% of the stock is owned by institutional investors and hedge funds.

HNI Trading Down 1.4 %

Shares of HNI stock opened at $49.28 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The company has a market capitalization of $2.36 billion, a P/E ratio of 19.10, a PEG ratio of 1.16 and a beta of 0.90. HNI has a 1 year low of $40.94 and a 1 year high of $58.42. The company’s fifty day moving average is $50.29 and its two-hundred day moving average is $52.08.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, February 24th. HNI’s dividend payout ratio (DPR) is presently 51.16%.

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.