HNI (NYSE:HNI) CEO Sells 39,576 Shares of Stock

Key Points

• HNI CEO Jeffrey Lorenger sold 39,576 shares at an average price of $50.09, generating approximately $1.98 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 21.04%.
• HNI shares fell 1.3% to $49.31, while the company reported quarterly EPS of $1.27, beating estimates of $1.04. Revenue rose 120.7% year over year to $1.47 billion, slightly below analyst expectations.
• The company declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 2.8% yield. Analysts maintain a “Moderate Buy” consensus with a $65 price target.

HNI Corporation (NYSE:HNI - Get Free Report) CEO Jeffrey Lorenger sold 39,576 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $50.09, for a total value of $1,982,361.84. Following the completion of the sale, the chief executive officer owned 148,490 shares in the company, valued at $7,437,864.10. This represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

HNI Trading Down 1.3%

NYSE:HNI traded down $0.65 on Friday, reaching $49.31. The stock had a trading volume of 113,094 shares, compared to its average volume of 684,526. HNI Corporation has a 12-month low of $28.93 and a 12-month high of $52.79. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 547.95, a P/E/G ratio of 0.59 and a beta of 0.91. The firm's fifty day moving average is $43.58 and its two-hundred day moving average is $39.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.88.

HNI (NYSE:HNI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.23. HNI had a net margin of 0.10% and a return on equity of 13.66%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. The company's revenue was up 120.7% on a year-over-year basis. HNI has set its FY 2026 guidance at 4.150-4.330 EPS and its Q3 2026 guidance at 1.160-1.190 EPS. Equities analysts expect that HNI Corporation will post 4.24 EPS for the current fiscal year.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. HNI's payout ratio is currently 1,555.56%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company set a $65.00 target price on HNI in a research report on Wednesday, July 15th. Benchmark reaffirmed a "buy" rating on shares of HNI in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of HNI from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Institutional Trading of HNI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in HNI in the second quarter valued at $431,744,000. California State Teachers Retirement System raised its holdings in shares of HNI by 3,828.7% in the 2nd quarter. California State Teachers Retirement System now owns 3,135,008 shares of the business services provider's stock worth $126,686,000 after purchasing an additional 3,055,211 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of HNI in the 2nd quarter valued at about $37,988,000. Cooke & Bieler LP lifted its stake in shares of HNI by 23.0% in the 4th quarter. Cooke & Bieler LP now owns 754,493 shares of the business services provider's stock valued at $31,719,000 after purchasing an additional 140,971 shares in the last quarter. Finally, Front Street Capital Management Inc. acquired a new stake in HNI during the 2nd quarter worth approximately $23,462,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI's Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.

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