HNI HNI Corp.
HNI Corp. is engaged in the manufacturing and trading of office furniture. It operates through two segments: Office Furniture and Hearth Products. The Office Furniture segment manufactures storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems. The Hearth Products segment develops and markets gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. The company was founded by C. Maxwell Stanley, Clem Hanson and H. Wood Miller in 1944 and is headquartered in Muscatine, IA.
Company profile
Ticker
HNI
Exchange
Website
CEO
Jeffrey D. Lorenger
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Steelcase ...
Former names
Hon Industries Inc
SEC CIK
Corporate docs
IRS number
420617510
HNI stock data
()
Calendar
28 Apr 20
4 Jul 20
2 Jan 21
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 468.7M | 616.08M | 625.39M | 526.03M | |
| Net income | -23.9M | 47.6M | 46.08M | 15.81M | |
| Diluted EPS | -0.56 | 1.1 | 1.07 | 0.36 | |
| Net profit margin | -5.10% | 7.73% | 7.37% | 3.01% | |
| Operating income | -23.73M | 63.76M | 60.66M | 23.25M | |
| Net change in cash | -16.66M | -940K | 24.23M | -19.09M | |
| Cash on hand | 35.41M | 52.07M | 53.01M | 28.78M | |
| Cost of revenue | 292.69M | 382.19M | 387.72M | 333.44M |
Financial data from HNI earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 3 Jun 20 | Larry B Porcellato | Common Stock | Sell | Dispose S | Yes | 26.34 | 1,000 | 26.34K | 48,758.961 |
| 5 May 20 | Sivajee Dhanusha | Common Stock | Grant | Aquire A | No | 0 | 3,608 | 0 | 7,570 |
| 5 May 20 | Sivajee Dhanusha | Common Stock | Grant | Aquire A | No | 0 | 287 | 0 | 3,962 |
| 5 May 20 | Ronald V Waters | Common Stock | Grant | Aquire A | No | 0 | 3,608 | 0 | 34,851.068 |
| 5 May 20 | Larry B Porcellato | Common Stock | Grant | Aquire A | No | 0 | 3,608 | 0 | 49,510.496 |
| 5 May 20 | Hartnett John R. | Common Stock | Grant | Aquire A | No | 0 | 3,608 | 0 | 19,625.944 |
| 5 May 20 | Hartnett John R. | Common Stock | Grant | Aquire A | No | 0 | 574 | 0 | 16,017.944 |
Institutional ownership Q1 2020
70.9% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 173 |
| Opened positions | 27 |
| Closed positions | 39 |
| Increased positions | 66 |
| Reduced positions | 51 |
13F shares |
Current |
|---|---|
| Total value | 2.85B |
| Total shares | 30.25M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| State Farm Mutual Automobile Insurance | 5.63M | $141.79M |
| BLK BlackRock | 4.89M | $123.21M |
| Vanguard | 4.27M | $107.64M |
| STT State Street | 1.38M | $34.8M |
| Dimensional Fund Advisors | 1.26M | $31.73M |
| Frontier Capital Management | 752.19K | $18.95M |
| NTRS Northern Trust | 728.29K | $18.35M |
| BK Bank Of New York Mellon | 709.59K | $17.87M |
| Geode Capital Management | 608.95K | $15.34M |
| GS The Goldman Sachs Group, Inc. | 550.64K | $13.87M |
Financial report summary
?Management Discussion
- Consolidated net sales for the first quarter of 2020 decreased 2.2 percent compared to the same quarter last year. The change was driven by a decrease in the office furniture segment partially offset by an increase in the hearth products segment. Included in the sales results for the hearth products segment was a $1.1 million impact from acquiring small hearth products businesses.
- Gross profit as a percentage of net sales increased 220 basis points in the first quarter of 2020 compared to the same quarter last year primarily driven by price realization and net productivity, partially offset by lower office furniture volume and increased tariff expense.
- Selling and administrative expenses as a percentage of net sales increased 100 basis points in the first quarter of 2020 compared to the same quarter last year due to $5.0 million of one-time costs related to the COVID-19 pandemic. Lower office furniture volume was fully offset by lower core SG&A spend and reduced variable compensation.
Content analysis
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H.S. freshman V bad
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New words:
accurately, achieved, Aid, alternative, apparent, architectural, array, assumed, budget, Carolina, carryback, CEO, chain, cleaning, cloth, combination, Committee, constant, consummated, create, deductible, deduction, depth, deterioration, Disease, disinfection, disposable, disruption, distancing, donating, doubtful, economy, enacted, event, exceeded, exceeding, exempt, expenditure, facemask, free, frequency, fueled, fully, furloughing, furnished, group, highly, Holding, II, individually, introduced, Iowa, labor, largely, list, loaning, local, match, mitigate, negatively, North, number, Organization, outbreak, pandemic, payroll, pellet, people, personal, PPE, preliminary, producing, quality, reassessed, recoverable, refundable, relief, remote, remotely, reorganized, response, retrospective, royalty, safe, safety, salaried, salary, scope, seating, SEC, Senior, shutdown, slowdown, social, staffing, strain, supply, surfaced, suspend, suspending, tariff, technical, temporarily, test, testing, tradename, turn, ultimate, uncertain, undiscounted, washable, workplace, world, Wuhan, York
Removed:
accounted, acquire, active, adjustment, allocate, AOCI, applied, arising, arrangement, assessing, assist, beginning, binding, burning, closing, closure, Colville, commenced, commencement, construction, Consumer, continually, continued, costing, designation, determining, directly, discretion, divest, divesting, earlier, efficiency, embedded, entity, escalate, evenly, exercise, exercised, existed, extend, federal, fee, finance, hedging, hindsight, implementation, implicit, inception, Indiana, input, investment, Kentucky, lease, leased, leasing, legally, lessee, license, LIFO, machine, modify, obtained, occasion, opening, option, order, panel, plant, portray, qualifying, realignment, Reclassification, reclassified, reclassify, relate, release, releasing, renew, renewal, rent, residual, restate, restructuring, retail, ROU, sale, secured, selected, separate, simplification, simplify, single, space, stranded, structural, sublease, system, targeted, technology, terminate, tool, transferred, treatment, valuation, Washington
Financial reports
10-Q
2020 Q1
Quarterly report
28 Apr 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
29 Oct 19
10-Q
2019 Q2
Quarterly report
30 Jul 19
10-Q
2019 Q1
Quarterly report
30 Apr 19
10-K
2018 FY
Annual report
26 Feb 19
10-Q
2018 Q3
Quarterly report
30 Oct 18
10-Q
2018 Q2
Quarterly report
31 Jul 18
10-Q
2018 Q1
Quarterly report
1 May 18
10-K
2017 FY
Annual report
23 Feb 18
Current reports
8-K
Hni Corporation Provides Update on Q2 Order Trends, Announces Participation In Virtual Investor Events
3 Jun 20
8-K
Submission of Matters to a Vote of Security Holders
7 May 20
8-K
Hni Corporation Provides Pandemic Response Update; Reports Strong First Quarter 2020 Results
22 Apr 20
8-K
Other Events
6 Apr 20
8-K
Hni Corporation Reports Strong Profitability for Fourth Quarter Fiscal Year 2019
19 Feb 20
8-K
Hni Corporation Announces New Chairman of Board of Directors
12 Feb 20
8-K
Hni Corporation Reports Earnings
23 Oct 19
8-K
Hni Corporation Reports Earnings
24 Jul 19
8-K
Departure of Directors or Certain Officers
12 Jul 19
8-K
Departure of Directors or Certain Officers
6 Jun 19
Registration and prospectus
S-8
Registration of securities for employees
9 May 17
S-8
Registration of securities for employees
25 Aug 15
S-8
Registration of securities for employees
15 Aug 13
S-8
Registration of securities for employees
11 Aug 10
S-8 POS
Registration of securities for employees (post-effective amendment)
11 Aug 10
S-8
Registration of securities for employees
11 Aug 10
S-8
Registration of securities for employees
11 Aug 10
15-12G
Securities registration termination
1 Dec 09
25-NSE
Exchange delisting
1 Dec 09
S-8
Registration of securities for employees
12 Jun 09
Proxies
DEFA14A
Additional proxy soliciting materials
17 Apr 20
DEFA14A
Additional proxy soliciting materials
26 Mar 20
DEF 14A
Definitive proxy
26 Mar 20
DEF 14A
Definitive proxy
22 Mar 19
DEFA14A
Additional proxy soliciting materials
22 Mar 19
DEFA14A
Additional proxy soliciting materials
20 Apr 18
DEF 14A
Definitive proxy
23 Mar 18
DEFA14A
Additional proxy soliciting materials
31 Mar 17
DEF 14A
Definitive proxy
24 Mar 17
DEF 14A
Definitive proxy
25 Mar 16
Other
SD
Conflict minerals disclosure
1 Jun 20
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
30 May 18
SD
Conflict minerals disclosure
30 May 17
SD
Conflict minerals disclosure
27 May 16
SD
Conflict minerals disclosure
1 Jun 15
SD
Conflict minerals disclosure
2 Jun 14
UPLOAD
Letter from SEC
6 Apr 12
CORRESP
Correspondence with SEC
29 Mar 12
UPLOAD
Letter from SEC
22 Mar 12
Ownership
4
HNI / Larry B Porcellato ownership change
5 Jun 20
4
HNI / ABBIE J SMITH ownership change
7 May 20
4
HNI / RONALD V WATERS ownership change
7 May 20
4
HNI / Larry B Porcellato ownership change
7 May 20
4
HNI / John R. Hartnett ownership change
7 May 20
4
HNI / CHERYL A FRANCIS ownership change
7 May 20
4
HNI / MIGUEL M CALADO ownership change
7 May 20
4
HNI / Mary K.W. Jones ownership change
7 May 20
4
HNI / Mary A Bell ownership change
7 May 20
4
HNI / Dhanusha Sivajee ownership change
7 May 20