Insider Selling: HNI Corporation (HNI) Chairman Sells 12,000 Shares of Stock

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.

Insider Buying and Selling by Quarter for HNI Corporation (NYSE:HNI)

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