Miguel M. Calado Sells 1,743 Shares of HNI Corporation (NYSE:HNI) Stock

Key Points

• Director Miguel M. Calado of HNI Corporation sold 1,743 shares at an average price of $53.00, totaling approximately $92,379, which reduced his ownership by 5.48%.
• HNI reported a quarterly earnings per share (EPS) of $1.11, outperforming analysts' expectations of $0.86, with quarterly revenue increasing by 7% year-over-year.
• The company increased its quarterly dividend to $0.34 per share, representing a 2.59% yield and a payout ratio of 44.16%.

HNI Corporation (NYSE:HNI - Get Free Report) Director Miguel M. Calado sold 1,743 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $53.00, for a total transaction of $92,379.00. Following the completion of the sale, the director owned 30,085 shares in the company, valued at $1,594,505. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

HNI Stock Performance

Shares of NYSE HNI traded down $0.80 during trading hours on Friday, reaching $50.65. The stock had a trading volume of 33,929 shares, compared to its average volume of 324,267. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.21 and a beta of 0.92. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.56. HNI Corporation has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The firm has a 50-day moving average of $49.18 and a 200-day moving average of $46.97.

HNI (NYSE:HNI - Get Free Report) last announced its earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.25. The firm had revenue of $667.10 million during 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%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Equities research analysts predict that HNI Corporation will post 3.6 earnings per share for the current year.

HNI Increases Dividend

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

Wall Street Analysts Forecast Growth

HNI has been the topic of a number of recent analyst reports. Susquehanna initiated coverage on HNI in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Longbow Research initiated coverage on HNI in a report on Friday, May 16th. They issued a "buy" rating and a $70.00 price objective on the stock. Finally, Wall Street Zen upgraded HNI from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Institutional Trading of HNI

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNI. Federated Hermes Inc. acquired a new position in HNI during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of HNI by 88.5% during the first 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of HNI by 44.1% during the second quarter. GAMMA Investing LLC now owns 774 shares of the business services provider's stock worth $38,000 after purchasing an additional 237 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of HNI by 649.1% in the 4th quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider's stock valued at $41,000 after purchasing an additional 701 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of HNI in the 4th quarter valued at $55,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

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.