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Water Tower Research (WTR) Publishes Initiation of Coverage Report on HNI Corporation. (NYSE: HNI) Titled “Introducing Cover of HNI: A Market Leader in Office Furniture and Hearth Products”

St. Petersburg, FL, February 24, 2022 – Water Tower Research has published an Initiation of Coverage Report on HNI Corporation (NYSE: HNI). The report focuses on the company’s key investment thesis points, history, advantages, opportunities, history, and industry megatrends.

“HNI, based in Iowa and started soon after World War II, sprang from a shared philosophy of the friends who founded the company. That philosophy was that a great company could be created by treating employees with dignity and respect and by knowing that customers are the ultimate judges of the value of its services and products,” said Budd Bugatch, Senior Analyst and Head of Consumer Investing at Water Tower Research. “In the seven plus decades from its founding, HNI has grown to be a market leader in office furniture and the market share leader in hearth products sold domestically.”

“HNI is a truly American story that began in the backyard of one of the founders during the waning days of World War II. The ideas that they had then persist today. In the interim, the company traveled through some twists and turns that the founders did not envision at the beginning. That led them to enter the office furniture market and growing to be the largest domestic producer of value-priced office furniture. Today, it is a leader in the manufacture and marketing of workplace furnishings for small- and medium-size businesses. In that channel, its e-commerce effort continues to grow rapidly. Additionally, it is a significant participant in the contract channel for large organizations that most often would use the services of an architect and/or designer to plan and secure office furniture. While the pandemic and inflation caused disruption to this segment, industry orders have grown consistently during the last three quarters of 2021 and implemented price increases should close the cost-over-price gap that marred 2021 earnings.”

Mr. Bugatch continued, “HNI’s entry into the hearth business dates back to the 1980s. In the time since, through acquisition and dedication to Lean, HNI has become the market leader in fireplaces for newly constructed houses. Its RBP segment delivers exceptional profitability. The key debate today is about HNI’s ability to grow primary demand for fireplaces in both new homes and in homes being remodeled. Management notes several marketing initiatives that have given it traction in the beginning stages of this strategy.”

The full report can be downloaded HERE.

About Water Tower Research (WTR)

Water Tower Research is an investor engagement and stakeholder communication platform powered by sector experts with significant Wall Street and industry experience. We create, deliver, and maintain the information flow required by companies to build and preserve relationships with all stakeholders and existing and potential investors. “Research for the Other 99%™” opens the door for companies to digitally share their stories directly and engage with a broad, diverse set of investors.

Contact Information:

Name: Chris Whitcomb
Job Title: Head of Investor Engagement & Digital Strategies

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