HNI Corp (NYSE:HNI) Director Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $42.70, for a total value of $1,076,552.40. Following the transaction, the director now directly owns 257,336 shares of the company’s stock, valued at approximately $10,988,247.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NYSE HNI traded up $0.25 during trading hours on Thursday, hitting $42.82. 2,372 shares of the company’s stock were exchanged, compared to its average volume of 98,225. HNI Corp has a 1-year low of $31.16 and a 1-year high of $45.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.23. The stock has a market capitalization of $1.93 billion, a PE ratio of 21.79 and a beta of 1.41.
HNI (NYSE:HNI) last issued its quarterly earnings results on Monday, July 23rd. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.10. HNI had a return on equity of 15.89% and a net margin of 4.13%. The firm had revenue of $543.60 million for the quarter, compared to analyst estimates of $525.00 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities research analysts forecast that HNI Corp will post 2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.18 annualized dividend and a yield of 2.76%. HNI’s dividend payout ratio is 59.90%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in HNI during the second quarter valued at about $157,000. Susquehanna Fundamental Investments LLC bought a new position in HNI during the first quarter valued at about $212,000. Koch Industries Inc. bought a new position in HNI during the first quarter valued at about $225,000. Creative Planning bought a new position in HNI during the second quarter valued at about $227,000. Finally, A.R.T. Advisors LLC bought a new position in HNI during the first quarter valued at about $248,000. Hedge funds and other institutional investors own 71.89% of the company’s stock.
HNI has been the subject of several research analyst reports. ValuEngine raised HNI from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, TheStreet raised HNI from a “c+” rating to a “b-” rating in a research report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold”.
HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.
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