HNI Corporation (NYSE:HNI) Chairman Stanley A. Askren sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $36.44, for a total value of $437,280.00. Following the completion of the sale, the chairman now owns 216,996 shares in the company, valued at $7,907,334.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of HNI Corporation (NYSE HNI) traded up 2.02% on Friday, reaching $37.93. The company had a trading volume of 346,599 shares. The company’s 50 day moving average price is $36.39 and its 200-day moving average price is $41.63. The stock has a market capitalization of $1.67 billion, a P/E ratio of 27.25 and a beta of 1.41. HNI Corporation has a 1-year low of $34.60 and a 1-year high of $56.94.
HNI Corporation (NYSE:HNI) last issued its earnings results on Monday, July 24th. The business services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The business had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $516.10 million. During the same period in the prior year, the business posted $0.68 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Equities analysts predict that HNI Corporation will post $2.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, August 16th. HNI Corporation’s dividend payout ratio is presently 81.43%.
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A number of equities research analysts have issued reports on the company. BidaskClub downgraded HNI Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research raised HNI Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Raymond James Financial, Inc. raised HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Wednesday, August 23rd. TheStreet cut HNI Corporation from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Finally, UBS AG raised HNI Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. HNI Corporation has a consensus rating of “Hold” and an average target price of $44.50.
Hedge funds have recently modified their holdings of the company. KCG Holdings Inc. purchased a new stake in HNI Corporation during the 1st quarter worth $205,000. Laurion Capital Management LP acquired a new position in HNI Corporation during the 1st quarter worth $221,000. Bank of Montreal Can grew its holdings in HNI Corporation by 27.2% during the 1st quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock worth $222,000 after acquiring an additional 1,030 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in HNI Corporation during the 1st quarter worth $284,000. Finally, SG Americas Securities LLC grew its holdings in HNI Corporation by 64.9% during the 1st quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock worth $316,000 after acquiring an additional 2,695 shares in the last quarter. 69.64% of the stock is currently owned by institutional investors and hedge funds.
About HNI Corporation
HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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