Insider Selling: HNI Corporation (NYSE:HNI) Insider Sells 1,440 Shares of Stock

HNI Corporation (NYSE:HNI - Get Free Report) insider Jason Dean Hagedorn sold 1,440 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $47.07, for a total value of $67,780.80. Following the transaction, the insider now directly owns 36,711 shares in the company, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

HNI Stock Performance

HNI stock traded down $0.56 during midday trading on Friday, reaching $46.32. 850,184 shares of the company's stock traded hands, compared to its average volume of 313,223. The stock's 50-day moving average is $45.30 and its 200 day moving average is $47.10. The stock has a market cap of $2.16 billion, a P/E ratio of 16.48, a PEG ratio of 1.12 and a beta of 0.93. HNI Corporation has a 52-week low of $39.76 and a 52-week high of $58.42. 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 posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.44 EPS 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 during the quarter, compared to analyst estimates of $580.47 million. During the same period in the prior year, the business posted $0.37 EPS. HNI's revenue was up 2.0% on a year-over-year basis. As a group, analysts anticipate that HNI Corporation will post 3.6 EPS for the current year.

HNI Increases Dividend

The business also recently disclosed 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. This is a boost from HNI's previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, May 23rd. HNI's payout ratio is presently 48.40%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC bought a new position in shares of HNI in the first quarter worth approximately $10,666,000. Jones Financial Companies Lllp raised its position in shares of HNI by 196,733.6% during the 1st quarter. Jones Financial Companies Lllp now owns 234,232 shares of the business services provider's stock valued at $10,388,000 after purchasing an additional 234,113 shares during the period. Jane Street Group LLC purchased a new position in shares of HNI during the 1st quarter valued at $10,301,000. Nuveen LLC bought a new position in HNI in the 1st quarter worth $8,309,000. Finally, Cerity Partners LLC bought a new position in HNI in the 4th quarter worth $8,897,000. 75.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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