Shares of HNI Corp. (NYSE:HNI) opened at 41.59 on Tuesday. HNI Corp. has a one year low of $29.84 and a one year high of $56.96. The company has a market capitalization of $1.85 billion, a P/E ratio of 16.55 and a beta of 1.40. The firm has a 50-day moving average of $52.93 and a 200-day moving average of $46.24.
HNI Corp. (NYSE:HNI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. HNI Corp. had a net margin of 5.06% and a return on equity of 26.76%. Analysts forecast that HNI Corp. will post $2.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 19th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Wednesday, August 17th. HNI Corp.’s dividend payout ratio (DPR) is currently 43.82%.
In other news, Chairman Stanley A. Askren sold 58,676 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $52.30, for a total value of $3,068,754.80. Following the sale, the chairman now directly owns 254,378 shares of the company’s stock, valued at approximately $13,303,969.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $52.20, for a total transaction of $1,904,412.60. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Iowa State Bank acquired a new stake in HNI Corp. during the second quarter valued at approximately $110,000. LS Investment Advisors LLC increased its stake in HNI Corp. by 76.3% in the second quarter. LS Investment Advisors LLC now owns 2,736 shares of the company’s stock valued at $127,000 after buying an additional 1,184 shares during the period. Tower Research Capital LLC TRC acquired a new stake in HNI Corp. during the second quarter valued at approximately $140,000. Bank of Montreal Can acquired a new stake in HNI Corp. during the second quarter valued at approximately $174,000. Finally, Shelton Capital Management acquired a new stake in HNI Corp. during the second quarter valued at approximately $216,000. 68.01% of the stock is currently owned by institutional investors and hedge funds.
About HNI Corp.
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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