HNI Corporation (NYSE:HNI) Insider Sells $67,780.80 in Stock

HNI Corporation (NYSE:HNI) insider Jason Dean Hagedorn sold 1,440 shares of HNI stock in a transaction on Friday, June 13th. The stock was sold at an average price of $47.07, for a total transaction of $67,780.80. Following the transaction, the insider now directly owns 36,711 shares of the company’s stock, valued at approximately $1,727,986.77. This trade represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

HNI Trading Down 0.8%

Shares of HNI stock opened at $46.83 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19. The firm has a 50-day moving average of $45.04 and a 200-day moving average of $47.25. HNI Corporation has a 52-week low of $39.76 and a 52-week high of $58.42. The stock has a market cap of $2.18 billion, a PE ratio of 16.67, a PEG ratio of 1.13 and a beta of 0.93.

HNI (NYSE:HNI) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. HNI had a net margin of 5.35% and a return on equity of 18.48%. The firm had revenue of $599.80 million for the quarter, compared to analyst estimates of $580.47 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that HNI Corporation will post 3.6 EPS for the current year.

HNI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.33. HNI’s dividend payout ratio (DPR) is 48.40%.

Institutional Investors Weigh In On HNI

Institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in shares of HNI during the first quarter worth $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of HNI by 85.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 258 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in HNI by 88.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. Sterling Capital Management LLC grew its position in HNI by 649.1% during the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock worth $41,000 after acquiring an additional 701 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of HNI during the fourth quarter valued at about $55,000. Institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

HNI has been the topic of several research analyst reports. Longbow Research assumed coverage on shares of HNI in a research report on Friday, May 16th. They issued a “buy” rating and a $70.00 price objective on the stock. Wall Street Zen raised HNI from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Susquehanna initiated coverage on HNI in a research note on Friday, May 16th. They set a “neutral” rating and a $80.00 target price on the stock.

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.