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

HNI Corporation (NYSE:HNI) insider Jason Dean Hagedorn sold 1,440 shares of HNI stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $47.07, for a total value of $67,780.80. Following the sale, the insider now directly owns 36,711 shares of the company’s stock, valued at approximately $1,727,986.77. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

HNI Trading Up 0.2%

Shares of HNI stock opened at $46.90 on Friday. The firm has a 50-day moving average of $45.22 and a 200-day moving average of $47.18. The stock has a market cap of $2.18 billion, a PE ratio of 16.69, 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 debt-to-equity ratio of 0.45, a quick ratio of 0.73 and a current ratio of 1.19.

HNI (NYSE:HNI) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $599.80 million during the quarter, compared to analysts’ expectations of $580.47 million. HNI had a net margin of 5.35% and a return on equity of 18.48%. HNI’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, sell-side analysts forecast that HNI Corporation will post 3.6 EPS for the current year.

HNI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 2.90%. HNI’s dividend payout ratio is currently 48.40%.

Institutional Investors Weigh In On HNI

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in HNI by 23.2% during the fourth quarter. Wells Fargo & Company MN now owns 34,509 shares of the business services provider’s stock worth $1,738,000 after purchasing an additional 6,497 shares during the period. Deutsche Bank AG lifted its position in HNI by 47.9% during the fourth 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 during the period. Vanguard Group Inc. lifted its position in HNI by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,718,014 shares of the business services provider’s stock worth $288,016,000 after purchasing an additional 62,476 shares during the period. Principal Financial Group Inc. lifted its position in HNI by 4.9% during the fourth quarter. Principal Financial Group Inc. now owns 250,181 shares of the business services provider’s stock worth $12,602,000 after purchasing an additional 11,716 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in HNI by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 628,272 shares of the business services provider’s stock worth $31,646,000 after purchasing an additional 105,034 shares during the period. Institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HNI shares. Susquehanna started coverage on shares of HNI in a research report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price for the company. Longbow Research started coverage on shares of HNI in a research report on Friday, May 16th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Wall Street Zen raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th.

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.