Brian Scott Smith Sells 2,284 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI) insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

HNI Trading Down 1.6 %

Shares of NYSE:HNI opened at $54.64 on Friday. The business’s 50-day moving average is $52.41 and its 200 day moving average is $48.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. HNI Co. has a 1 year low of $32.70 and a 1 year high of $56.13. The firm has a market capitalization of $2.58 billion, a P/E ratio of 40.47, a P/E/G ratio of 1.40 and a beta of 0.84.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. The firm had revenue of $623.70 million for the quarter, compared to the consensus estimate of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, research analysts predict that HNI Co. will post 3.17 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is presently 97.78%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HNI. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th.

Hedge Funds Weigh In On HNI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNI. Hennion & Walsh Asset Management Inc. acquired a new position in shares of HNI in the first quarter valued at about $245,000. BNP Paribas Financial Markets increased its holdings in HNI by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after buying an additional 16,646 shares during the period. Nordea Investment Management AB raised its position in HNI by 11.7% during the 1st quarter. Nordea Investment Management AB now owns 89,002 shares of the business services provider’s stock worth $4,047,000 after buying an additional 9,329 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in HNI during the 1st quarter valued at approximately $202,000. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of HNI by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,765 shares of the business services provider’s stock valued at $1,840,000 after acquiring an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About HNI

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.