Insider Selling: HNI Co. (NYSE:HNI) Director Sells 1,796 Shares of Stock

HNI Co. (NYSE:HNI - Get Free Report) Director Larry B. Porcellato sold 1,796 shares of the business's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $46.00, for a total value of $82,616.00. Following the completion of the sale, the director now owns 39,100 shares in the company, valued at $1,798,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

HNI Trading Down 0.2 %

NYSE HNI traded down $0.07 on Friday, hitting $45.85. 115,930 shares of the stock were exchanged, compared to its average volume of 254,392. HNI Co. has a 52-week low of $25.06 and a 52-week high of $46.02. The firm has a market capitalization of $2.17 billion, a P/E ratio of 34.02, a P/E/G ratio of 1.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a fifty day moving average price of $43.39 and a two-hundred day moving average price of $41.38.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. HNI had a net margin of 2.57% and a return on equity of 17.75%. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm's revenue was up 22.7% compared to the same quarter last year. Research analysts forecast that HNI Co. will post 3.1 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Monday, February 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, February 23rd. HNI's dividend payout ratio (DPR) is presently 94.81%.

Institutional Investors Weigh In On HNI

A number of institutional investors and hedge funds have recently bought and sold shares of the company. USA Financial Formulas bought a new stake in HNI during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new stake in HNI during the fourth quarter valued at about $42,000. Allspring Global Investments Holdings LLC purchased a new position in HNI in the third quarter valued at about $56,000. Northwest Financial Advisors bought a new position in HNI in the fourth quarter worth about $134,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of HNI during the first quarter valued at about $202,000. 75.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HNI. Benchmark increased their price objective on shares of HNI from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, April 30th. StockNews.com lowered HNI from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 8th.

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.