HNI Co. (NYSE:HNI) VP Sells $821,067.70 in Stock

HNI Co. (NYSE:HNI) VP Steven M. Bradford sold 21,590 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $38.03, for a total transaction of $821,067.70. Following the sale, the vice president now directly owns 63,178 shares in the company, valued at $2,402,659.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

HNI Price Performance

HNI opened at $39.28 on Friday. HNI Co. has a 52-week low of $24.60 and a 52-week high of $39.87. The stock has a market capitalization of $1.83 billion, a P/E ratio of 42.24, a P/E/G ratio of 1.31 and a beta of 0.82. The company’s 50-day simple moving average is $35.09 and its two-hundred day simple moving average is $30.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.68 and a current ratio of 1.14.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. HNI had a net margin of 1.85% and a return on equity of 14.88%. The business had revenue of $711.60 million during the quarter, compared to analyst estimates of $712.89 million. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was up 18.8% on a year-over-year basis. As a group, analysts predict that HNI Co. will post 2.4 EPS for the current year.

HNI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 20th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, November 17th. HNI’s dividend payout ratio (DPR) is currently 137.63%.

Institutional Investors Weigh In On HNI

Institutional investors have recently added to or reduced their stakes in the stock. HBK Investments L P purchased a new position in shares of HNI in the first quarter valued at $1,358,000. Grace & White Inc. NY purchased a new position in shares of HNI in the second quarter valued at $2,203,000. Wealth Alliance Advisory Group LLC grew its holdings in shares of HNI by 7.9% in the second quarter. Wealth Alliance Advisory Group LLC now owns 16,922 shares of the business services provider’s stock valued at $477,000 after purchasing an additional 1,243 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of HNI by 13.4% in the second quarter. Inspire Investing LLC now owns 11,170 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of HNI by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 729,623 shares of the business services provider’s stock valued at $20,561,000 after purchasing an additional 101,413 shares in the last quarter. 77.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. TheStreet raised shares of HNI from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Benchmark increased their price objective on shares of HNI from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, StockNews.com raised shares of HNI from a “hold” rating to a “buy” rating in a research report on Wednesday, November 1st.

About HNI

HNI Corporation, together with its subsidiaries, manufactures, sells, and markets 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, and architectural products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF Textiles, HBF, OFM, Respawn, and HNI India brands.