HNI Corporation (NYSE:HNI) Director Miguel M. Calado Sells 2,000 Shares

HNI Corporation (NYSE:HNI - Get Free Report) Director Miguel M. Calado sold 2,000 shares of HNI stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $50.00, for a total transaction of $100,000.00. Following the sale, the director owned 31,828 shares in the company, valued at approximately $1,591,400. The trade was a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

HNI Trading Up 3.0%

Shares of HNI stock traded up $1.47 during trading hours on Tuesday, reaching $50.65. 18,970 shares of the stock were exchanged, compared to its average volume of 311,715. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.93. HNI Corporation has a 12-month low of $39.76 and a 12-month high of $58.42. The company's 50-day moving average price is $46.19 and its 200-day moving average price is $46.71. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 0.45.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. HNI had a return on equity of 18.48% and a net margin of 5.35%. The firm had revenue of $599.80 million for the quarter, compared to the consensus estimate of $580.47 million. During the same period in the prior year, the business posted $0.37 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date was Friday, May 23rd. This is a positive change from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.69%. HNI's dividend payout ratio (DPR) is 48.40%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HNI. Wall Street Zen upgraded shares of HNI from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Susquehanna began coverage on HNI in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective for the company. Finally, Longbow Research began coverage on HNI in a research report on Friday, May 16th. They set a "buy" rating and a $70.00 target price on the stock.

Institutional Trading of HNI

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of HNI by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider's stock valued at $288,016,000 after acquiring an additional 62,476 shares in the last quarter. Northern Trust Corp increased its position in HNI by 0.9% during the 1st quarter. Northern Trust Corp now owns 2,204,982 shares of the business services provider's stock valued at $97,791,000 after purchasing an additional 19,287 shares during the period. FMR LLC raised its holdings in shares of HNI by 6.8% in the 4th quarter. FMR LLC now owns 1,960,596 shares of the business services provider's stock valued at $98,755,000 after purchasing an additional 124,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of HNI by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,623,706 shares of the business services provider's stock worth $81,786,000 after purchasing an additional 43,249 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of HNI by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,091,498 shares of the business services provider's stock valued at $54,992,000 after acquiring an additional 6,668 shares during the period. Institutional investors own 75.26% of the company's stock.

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.