HNI Co. (NYSE:HNI) Insider Brian Scott Smith Sells 556 Shares

HNI Co. (NYSE:HNI) insider Brian Scott Smith sold 556 shares of HNI stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the sale, the insider now directly owns 14,394 shares of the company’s stock, valued at approximately $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

HNI Stock Down 4.9 %

NYSE HNI opened at $46.72 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.14 and a beta of 0.90. The company has a 50 day moving average of $49.83 and a 200-day moving average of $52.01. HNI Co. has a 1-year low of $40.94 and a 1-year high of $58.42.

HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $642.50 million during the quarter, compared to analysts’ expectations of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. On average, equities research analysts expect that HNI Co. will post 3.6 earnings per share for the current fiscal year.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 2.83%. HNI’s dividend payout ratio is 45.67%.

Hedge Funds Weigh In On HNI

Hedge funds have recently bought and sold shares of the company. Eastern Bank bought a new stake in shares of HNI during the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its position in HNI by 85.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 258 shares in the last quarter. Covestor Ltd lifted its stake in HNI by 219.9% during the third quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after purchasing an additional 508 shares during the last quarter. Sterling Capital Management LLC lifted its stake in HNI by 649.1% during the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock worth $41,000 after purchasing an additional 701 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of HNI in the 4th quarter valued at $55,000. 75.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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