Brian Scott Smith Sells 2,284 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI) insider Brian Scott Smith sold 2,284 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

HNI Stock Down 1.6 %

Shares of NYSE HNI opened at $54.64 on Friday. The company has a market cap of $2.58 billion, a P/E ratio of 40.47, a PEG ratio of 1.40 and a beta of 0.84. The firm has a 50-day simple moving average of $52.41 and a two-hundred day simple moving average of $48.07. HNI Co. has a 1 year low of $32.70 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73.

HNI (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. The company had revenue of $623.70 million during the quarter, compared to analysts’ expectations of $637.74 million. During the same quarter in the previous year, the business earned $0.55 EPS. HNI’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that HNI Co. will post 3.17 earnings per share for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a yield of 2.42%. HNI’s dividend payout ratio (DPR) is 97.78%.

Hedge Funds Weigh In On HNI

A number of institutional investors have recently modified their holdings of HNI. Vanguard Group Inc. grew its stake in HNI by 5.5% in the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock worth $251,208,000 after purchasing an additional 287,735 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of HNI during the 1st quarter worth $4,267,000. Hillsdale Investment Management Inc. purchased a new position in shares of HNI during the first quarter valued at $3,987,000. Jupiter Asset Management Ltd. raised its holdings in shares of HNI by 184.7% in the first quarter. Jupiter Asset Management Ltd. now owns 102,330 shares of the business services provider’s stock valued at $4,618,000 after acquiring an additional 66,387 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in HNI in the first quarter worth about $2,623,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HNI. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 13th. Benchmark raised their target price on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

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.