HNI Co. (NYSE:HNI) VP Steven M. Bradford Sells 5,976 Shares

HNI Co. (NYSE:HNI) VP Steven M. Bradford sold 5,976 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.15, for a total transaction of $317,624.40. Following the transaction, the vice president now directly owns 61,642 shares in the company, valued at $3,276,272.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

HNI Stock Performance

Shares of NYSE:HNI traded up $0.17 during midday trading on Monday, hitting $54.67. The stock had a trading volume of 295,685 shares, compared to its average volume of 252,759. The company has a market capitalization of $2.59 billion, a PE ratio of 40.46, a P/E/G ratio of 1.47 and a beta of 0.86. The stock has a 50 day moving average price of $45.93 and a two-hundred day moving average price of $44.04. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. HNI Co. has a 1 year low of $27.92 and a 1 year high of $54.77.

HNI (NYSE:HNI) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.18. The business 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, equities analysts predict that HNI Co. will post 3.1 earnings per share for the current fiscal year.

HNI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a $0.33 dividend. This is an increase from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.41%. HNI’s payout ratio is presently 97.78%.

Institutional Trading of HNI

Several hedge funds and other institutional investors have recently made changes to their positions in HNI. Norges Bank acquired a new stake in shares of HNI in the fourth quarter valued at about $13,368,000. Vanguard Group Inc. lifted its stake in shares of HNI by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after purchasing an additional 287,735 shares during the period. Franklin Resources Inc. lifted its stake in shares of HNI by 20.0% in the fourth quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider’s stock valued at $51,744,000 after purchasing an additional 206,419 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of HNI in the first quarter valued at about $4,267,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of HNI in the fourth quarter valued at about $3,906,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Friday. Benchmark raised their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday.

HNI Company Profile

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.