HNI is a leading global provider and designer of office furniture and the nation's leading manufacturer and marketer of hearth products. HNI sells the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. Its hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories.
Company profile
Ticker
HNI
Exchange
Website
CEO
Stanley Askren
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Steelcase ...
Former names
HON INDUSTRIES INC
SEC CIK
Corporate docs
Subsidiaries
Allsteel Inc. • Design Holdings Inc. • Dongguan Lamex Furniture Co. Ltd. • Global Known Ltd. • The Gunlocke Company L.L.C. • Hearth & Home Technologies LLC • Hickory Business Furniture, LLC • HBF Furniture LLC • HNI Asia L.L.C. • HNI Asia Technology ...
IRS number
420617510
HNI stock data
News
Benzinga's Top Ratings Upgrades, Downgrades For August 1, 2022
1 Aug 22
Sidoti & Co. Downgrades HNI to Neutral, Announces $38 Price Target
1 Aug 22
HNI: Q2 Earnings Insights
28 Jul 22
HNI Q2 EPS $0.52 Beats $0.34 Estimate, Sales $621.70M Beat $606.65M Estimate
28 Jul 22
Earnings Scheduled For July 28, 2022
28 Jul 22
Analyst ratings and price targets
Calendar
2 Aug 22
9 Aug 22
31 Dec 22
Financial summary
| Quarter (USD) | Jul 22 | Apr 22 | Jan 22 | Oct 21 | |
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| Diluted EPS |
| Annual (USD) | Jan 22 | Jan 21 | Dec 19 | Dec 18 | |
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| Revenue | |||||
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 19.6M | 19.6M | 19.6M | 19.6M | 19.6M | 19.6M |
| Cash burn (monthly) | 1.29M | 8.24M | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 1.61M | 10.28M | n/a | n/a | n/a | n/a |
| Cash remaining | 17.99M | 9.32M | n/a | n/a | n/a | n/a |
| Runway (months of cash) | 13.9 | 1.1 | n/a | n/a | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 15 Jun 22 | Larry B Porcellato | Common Stock | Sell | Dispose S | No | Yes | 36.1007 | 1,500 | 54.15K | 43,018.276 |
| 17 May 22 | Calado Miguel M | Common Stock | Grant | Acquire A | No | No | 0 | 3,041 | 0 | 34,898.527 |
| 17 May 22 | Sivajee Dhanusha | Common Stock | Grant | Acquire A | No | No | 0 | 3,041 | 0 | 13,930 |
| 17 May 22 | Francis Cheryl A | Common Stock | Grant | Acquire A | No | No | 0 | 3,041 | 0 | 75,987 |
| 17 May 22 | Smith Abbie J | Common Stock | Grant | Acquire A | No | No | 0 | 3,041 | 0 | 81,482.105 |
Institutional ownership, Q1 2022
22.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 177 |
| Opened positions | 19 |
| Closed positions | 10 |
| Increased positions | 67 |
| Reduced positions | 63 |
| 13F shares | Current |
|---|---|
| Total value | 1.21B |
| Total shares | 32.58M |
| Total puts | 0 |
| Total calls | 15.4K |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 6.96M | $257.74M |
| Vanguard | 4.73M | $175.27M |
| State Farm Mutual Automobile Insurance | 4.03M | $149.3M |
| NTRS Northern Trust | 2.18M | $80.89M |
| STT State Street | 1.59M | $58.94M |
| FMR | 1.51M | $55.99M |
| Dimensional Fund Advisors | 1.13M | $41.89M |
| Charles Schwab Investment Management | 1.08M | $39.84M |
| Geode Capital Management | 752.68K | $27.89M |
| BK Bank Of New York Mellon | 654.89K | $24.26M |
Financial report summary
?Management Discussion
- Consolidated net sales for 2021 increased 11.7 percent compared to the prior year. The change was driven by a significant increase in the residential building products segment, along with a moderate increase in the workplace furnishings segment. Included in the 2021 sales results was a $34.9 million favorable impact from acquiring DPG, and a $12.4 million favorable impact from acquiring residential building products businesses.
- Gross profit as a percentage of net sales decreased 220 basis points in 2021 compared to 2020, primarily driven by unfavorable price-cost, partially offset by higher residential building products volume and improved net productivity. Unfavorable price-cost was attributable to inflationary pressures in labor, materials, and transportation costs partially offset by increased price realization.
- Selling and administrative expenses as a percentage of net sales decreased 130 basis points in 2021 compared to 2020, driven by higher residential building products volume and lower core SG&A, partially offset by increased freight costs, the return of costs related to temporary actions taken in 2020, and higher investment spend. Included in current year and prior year SG&A was $1.4 million and $6.8 million, respectively, of one-time costs driven by conditions related to the COVID-19 pandemic.
Content analysis
?| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
8th grade Bad
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New words:
agreed, bear, Carolina, China, criteria, Dickerson, dollar, doubtful, driver, gain, Hong, Inflationary, Lamex, macroeconomic, met, moderate, North, Overnight, preference, Raleigh, restate, restated, risen, rounding, sale, Secured, set
Removed:
accelerated, banker, Box, chapter, check, complying, conducting, currency, electronically, Employer, expand, expiring, February, file, filer, filing, foreign, hedge, II, immaterial, improving, Incorporation, Interactive, large, LIBOR, mark, Mine, month, notional, number, observed, PART, past, positioned, preceding, recovery, registered, registrant, revolver, Rule, Safety, shell, shorter, shown, smaller, stage, State, strength, submit, submitted, Title, Trading, transition, translation, unfavorable, Unregistered, Washington
Financial reports
Current reports
8-K
Hni Corporation Reports Earnings
28 Jul 22
8-K/A
Entry into a Material Definitive Agreement
20 Jul 22
8-K
Regulation FD Disclosure
20 Jul 22
8-K
Entry into a Material Definitive Agreement
17 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
1 Jun 22
8-K
Other Events
20 May 22
8-K
Departure of Directors or Certain Officers
17 May 22
8-K
Hni Corporation Reports Earnings
28 Apr 22
8-K
Hni Corporation Reports Earnings for Fourth Quarter and Fiscal Year 2021
28 Feb 22
8-K
Hni Corporation Reports Earnings
25 Oct 21
Registration and prospectus
S-8
Registration of securities for employees
25 May 21
S-8
Registration of securities for employees
8 May 17
S-8
Registration of securities for employees
24 Aug 15
S-8
Registration of securities for employees
14 Aug 13
S-8
Registration of securities for employees
10 Aug 10
S-8
Registration of securities for employees
10 Aug 10
S-8
Registration of securities for employees
10 Aug 10
S-8 POS
Registration of securities for employees (post-effective amendment)
10 Aug 10
15-12G
Securities registration termination
30 Nov 09
25-NSE
Exchange delisting
30 Nov 09
Proxies
DEFA14A
Additional proxy soliciting materials
1 Apr 22
DEFA14A
Additional proxy soliciting materials
3 May 21
DEFA14A
Additional proxy soliciting materials
12 Apr 21
DEFA14A
Additional proxy soliciting materials
17 Apr 20
DEFA14A
Additional proxy soliciting materials
26 Mar 20
DEF 14A
Definitive proxy
21 Mar 19
DEFA14A
Additional proxy soliciting materials
21 Mar 19
Other
SD
Conflict minerals disclosure
27 May 22
SD
Conflict minerals disclosure
28 May 21
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
29 May 17
SD
Conflict minerals disclosure
26 May 16
SD
Conflict minerals disclosure
31 May 15
SD
Conflict minerals disclosure
1 Jun 14
UPLOAD
Letter from SEC
5 Apr 12
Ownership
11-K
Annual report of employee stock purchases
24 Jun 22
4
HNI / Larry B Porcellato ownership change
16 Jun 22
3
HNI / Radhakrishna S Rao ownership change
25 May 22
4
HNI / MIGUEL M CALADO ownership change
19 May 22
4
HNI / John R. Hartnett ownership change
19 May 22
4
HNI / Larry B Porcellato ownership change
19 May 22
4
HNI / ABBIE J SMITH ownership change
19 May 22
4
HNI / Mary A Bell ownership change
19 May 22
4
HNI / Dhanusha Sivajee ownership change
19 May 22
4
HNI / Mary K.W. Jones ownership change
19 May 22
Patents
Utility
Workspace Wall Panels and Systems Including Same
21 Jul 22
A wall panel for a workspace system includes a monolithic wall portion and a cover carried by the monolithic wall portion.
Utility
Panel Mounted Glass Bracket Assembly
10 Feb 22
A bracket for securing a panel is provided, the bracket including a panel contact member including an interface portion.
Utility
Modular Wall System
16 Sep 21
A wall panel of a moveable and demountable frameless wall panel system that is secured between a floor of a room and a ceiling rail secured to a ceiling of the room.
Utility
Tool-less Fastening System
12 Aug 21
A tool-less fastening system includes an interface assembly including an interface body having a first longitudinal end, a second longitudinal end, and a contact surface disposed between the first longitudinal surface and the second longitudinal surface, a fastening element coupled to the interface body, and a stop block extending from the interface body at the second longitudinal end, the stop block including an inclined surface.
Utility
Support beam connector system
10 Aug 21
Various aspects of the present disclosure are directed toward apparatuses, systems and methods for connecting a first support and a second support.
Transcripts
2022 Q2
Earnings call transcript
30 Jul 22
2022 Q1
Earnings call transcript
29 Apr 22
2021 Q4
Earnings call transcript
28 Feb 22
2021 Q3
Earnings call transcript
25 Oct 21
2021 Q2
Earnings call transcript
31 Jul 21
2021 Q1
Earnings call transcript
1 May 21
2020 Q4
Earnings call transcript
1 Mar 21
2020 Q3
Earnings call transcript
19 Oct 20
2020 Q3
Earnings call transcript
19 Oct 20
2020 Q2
Earnings call transcript
23 Jul 20
Reddit threads
Daily Discussion Thread - July 28th, 2022
28 Jul 22
Daily Discussion Thread - July 27th, 2022
27 Jul 22
Daily Discussion Thread - July 26th, 2022
26 Jul 22
Daily Discussion Thread - July 25th, 2022
25 Jul 22
tsla 🐻 will be decimated, this will happen after q3/q4
20 Jun 22
Daily Discussion Thread - May 26th, 2022
26 May 22
Gamma Scalping - What is a good benchmark for backtesting?
25 May 22
Daily Discussion Thread - May 25th, 2022
25 May 22
Daily Discussion Thread - May 24th, 2022
24 May 22
Daily Discussion Thread - May 23rd, 2022
23 May 22