Insider Selling: HNI Co. (NYSE:HNI) Insider Sells $27,744.40 in Stock

HNI Co. (NYSE:HNI) insider Brian Scott Smith sold 556 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the completion of the sale, the insider now owns 14,394 shares in the company, valued at approximately $718,260.60. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

HNI Stock Performance

Shares of HNI opened at $46.72 on Friday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.14 and a beta of 0.90. HNI Co. has a 12 month low of $40.94 and a 12 month high of $58.42. The firm has a fifty day simple moving average of $49.83 and a 200 day simple moving average of $52.01. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. Research analysts forecast that HNI Co. will post 3.6 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 2.83%. HNI’s dividend payout ratio is 45.67%.

Institutional Investors Weigh In On HNI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eastern Bank acquired a new stake in HNI in the third quarter valued at $27,000. Smartleaf Asset Management LLC lifted its position in shares of HNI by 85.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after buying an additional 258 shares during the last quarter. Covestor Ltd increased its holdings in shares of HNI by 219.9% during the 3rd quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after acquiring an additional 508 shares during the last quarter. Sterling Capital Management LLC raised its stake in HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 701 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in HNI during the 4th quarter valued at $55,000. Institutional investors own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research note 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.