HNI (NYSE:HNI) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

HNI Corporation (NYSE:HNI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.33 and traded as high as $48.77. HNI shares last traded at $48.6890, with a volume of 569,504 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HNI. Benchmark reissued a “buy” rating on shares of HNI in a report on Friday, January 16th. Wall Street Zen cut HNI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings downgraded HNI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, HNI currently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

HNI Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.33 and a quick ratio of 0.85. The company has a 50 day moving average price of $43.65 and a 200 day moving average price of $44.33. The firm has a market cap of $2.23 billion, a PE ratio of 16.34, a PEG ratio of 0.58 and a beta of 0.94.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $0.34 per share. The ex-dividend date was Monday, November 17th. This represents a $1.36 dividend on an annualized basis and a yield of 2.8%. HNI’s dividend payout ratio is presently 45.64%.

Institutional Trading of HNI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its holdings in HNI by 2.0% during the second quarter. Valeo Financial Advisors LLC now owns 10,537 shares of the business services provider’s stock worth $518,000 after purchasing an additional 205 shares in the last quarter. GAMMA Investing LLC boosted its holdings in HNI by 59.9% in the 4th quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 458 shares in the last quarter. Rhumbline Advisers increased its position in HNI by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 134,220 shares of the business services provider’s stock worth $6,601,000 after purchasing an additional 512 shares during the period. Triumph Capital Management purchased a new position in shares of HNI during the 3rd quarter worth approximately $28,000. Finally, SG Americas Securities LLC lifted its holdings in shares of HNI by 4.0% in the 3rd quarter. SG Americas Securities LLC now owns 15,938 shares of the business services provider’s stock valued at $747,000 after buying an additional 608 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

HNI Company Profile

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.