HNI Corporation (NYSE:HNI) CEO Sells $10,658.00 in Stock

Key Points

• HNI Corporation CEO Jeffrey D. Lorenger sold 200 shares at an average price of $53.29, totaling $10,658, reducing his ownership by 0.06% to 344,193 shares.
• The company reported $1.11 earnings per share for the latest quarter, exceeding analysts' expectations of $0.86, with a revenue increase of 7.0% year-over-year.
• HNI recently increased its quarterly dividend from $0.33 to $0.34 per share, representing an annualized yield of 2.59%.

HNI Corporation (NYSE:HNI - Get Free Report) CEO Jeffrey D. Lorenger sold 200 shares of HNI stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $10,658.00. Following the completion of the transaction, the chief executive officer directly owned 344,193 shares of the company's stock, valued at approximately $18,342,044.97. This trade represents a 0.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

HNI Stock Down 1.5%

NYSE HNI traded down $0.80 on Friday, hitting $50.65. 33,929 shares of the company were exchanged, compared to its average volume of 324,267. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $49.18 and a 200-day moving average of $46.97. The company has a market cap of $2.32 billion, a PE ratio of 16.44, a PEG ratio of 1.21 and a beta of 0.92. HNI Corporation has a 12 month low of $39.76 and a 12 month high of $58.42.

HNI (NYSE:HNI - Get Free Report) last issued its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.25. The company had revenue of $667.10 million for the quarter, compared to analysts' expectations of $646.49 million. HNI had a return on equity of 20.08% and a net margin of 5.73%. HNI's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. As a group, analysts forecast that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. This is an increase from HNI's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 23rd. HNI's payout ratio is presently 44.16%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in shares of HNI during the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its stake in HNI by 88.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 705 shares of the business services provider's stock worth $31,000 after purchasing an additional 331 shares in the last quarter. GAMMA Investing LLC grew its position in shares of HNI by 44.1% during the 2nd quarter. GAMMA Investing LLC now owns 774 shares of the business services provider's stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of HNI by 649.1% in the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock worth $41,000 after buying an additional 701 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in HNI during the fourth quarter worth about $55,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Longbow Research started coverage on HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 price target on the stock. Wall Street Zen raised shares of HNI from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Susquehanna assumed coverage on HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company.

About HNI

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.