HNI Corporation (NYSE:HNI) Short Interest Update

Key Points

• Short interest in HNI Corporation has increased by 37.0% in August, totaling 3,960,000 shares, which indicates increasing bearish sentiment among investors.
• In recent transactions, insider Miguel M. Calado sold 2,000 shares of HNI stock, representing a 5.91% decrease in his ownership stake.
• HNI's most recent quarterly earnings report showed an EPS of $1.11, exceeding analysts' expectations and marking a 7.0% increase in revenue year-over-year.

HNI Corporation (NYSE:HNI - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 3,960,000 shares, an increase of 37.0% from the August 15th total of 2,890,000 shares. Based on an average trading volume of 554,500 shares, the days-to-cover ratio is currently 7.1 days. Approximately 8.9% of the company's stock are sold short. Approximately 8.9% of the company's stock are sold short. Based on an average trading volume of 554,500 shares, the days-to-cover ratio is currently 7.1 days.

HNI Stock Down 0.8%

NYSE:HNI traded down $0.35 during trading hours on Friday, reaching $45.51. 1,388,621 shares of the stock were exchanged, compared to its average volume of 662,682. HNI has a twelve month low of $39.76 and a twelve month high of $58.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a 50 day moving average of $46.82 and a 200 day moving average of $46.00. The stock has a market cap of $2.08 billion, a PE ratio of 14.77, a PEG ratio of 0.65 and a beta of 0.94.

HNI (NYSE:HNI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.25. HNI had a return on equity of 20.08% and a net margin of 5.73%.The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $646.49 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The business's revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that HNI will post 3.6 earnings per share for the current year.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.0%. HNI's dividend payout ratio is currently 44.16%.

Insiders Place Their Bets

In other HNI news, Director Miguel M. Calado sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 31,828 shares of the company's stock, valued at $1,591,400. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 3,943 shares of company stock worth $203,037. Corporate insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On HNI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of HNI by 47.9% during the 4th quarter. Deutsche Bank AG now owns 41,136 shares of the business services provider's stock worth $2,072,000 after purchasing an additional 13,330 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of HNI during the 1st quarter worth approximately $365,000. Harbor Capital Advisors Inc. bought a new stake in shares of HNI during the 1st quarter worth approximately $535,000. Nuveen LLC bought a new stake in HNI in the 1st quarter valued at $8,309,000. Finally, Jane Street Group LLC bought a new stake in HNI in the 1st quarter valued at $10,301,000. Institutional investors own 75.26% of the company's 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.