Insider Selling: HNI Co. (NYSE:HNI) Insider Sells 2,284 Shares of Stock

HNI Co. (NYSE:HNI) insider Brian Scott Smith sold 2,284 shares of HNI 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 completion of the sale, the insider now directly owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

HNI Price Performance

HNI stock traded up $0.57 during mid-day trading on Thursday, reaching $55.54. 153,363 shares of the company traded hands, compared to its average volume of 246,420. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The company has a market capitalization of $2.63 billion, a P/E ratio of 40.72, a P/E/G ratio of 1.40 and a beta of 0.84. HNI Co. has a 52-week low of $32.70 and a 52-week high of $56.13. The company has a fifty day moving average price of $52.22 and a 200-day moving average price of $47.95.

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

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Friday, August 23rd. HNI’s payout ratio is presently 97.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HNI shares. Benchmark lifted their price objective on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a report on Sunday.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HNI. AlphaMark Advisors LLC bought a new stake in shares of HNI during the 3rd quarter valued at about $349,000. Creative Planning bought a new stake in shares of HNI during the 3rd quarter valued at about $454,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of HNI by 13.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 45,700 shares of the business services provider’s stock valued at $2,460,000 after acquiring an additional 5,500 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of HNI during the 3rd quarter valued at about $230,000. Finally, CWM LLC boosted its position in shares of HNI by 3.2% during the 3rd quarter. CWM LLC now owns 7,332 shares of the business services provider’s stock valued at $395,000 after acquiring an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s 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.