HNI Corp. (NYSE:HNI) fell 0.5% on Monday following insider selling activity. The stock traded as low as $39.54 and last traded at $40.17, with a volume of 96,705 shares traded. The stock had previously closed at $39.97.
Specifically, insider Jeffrey D. Lorenger sold 36,483 shares of HNI Corp. stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $52.20, for a total value of $1,904,412.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stanley A. Askren sold 58,676 shares of HNI Corp. 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 completion of the transaction, the chairman now owns 254,378 shares of the company’s stock, valued at approximately $13,303,969.40. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
Several brokerages have issued reports on HNI. Raymond James Financial Inc. downgraded HNI Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Zacks Investment Research downgraded HNI Corp. from a “buy” rating to a “sell” rating in a research report on Wednesday, September 21st.
The stock has a market capitalization of $1.79 billion, a P/E ratio of 15.98 and a beta of 1.40. The firm has a 50 day moving average price of $52.57 and a 200-day moving average price of $46.26.
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, topping the Zacks’ consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. Analysts forecast that HNI Corp. will post $2.72 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 19th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, August 17th. HNI Corp.’s dividend payout ratio is currently 43.82%.
Large investors have recently modified their holdings of the company. Deprince Race & Zollo Inc. increased its stake in shares of HNI Corp. by 850.3% in the second quarter. Deprince Race & Zollo Inc. now owns 321,692 shares of the company’s stock worth $14,955,000 after buying an additional 287,841 shares in the last quarter. Royal Bank of Canada increased its stake in shares of HNI Corp. by 846.6% in the second quarter. Royal Bank of Canada now owns 253,377 shares of the company’s stock worth $11,781,000 after buying an additional 226,609 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of HNI Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 426,000 shares of the company’s stock worth $16,686,000 after buying an additional 191,200 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of HNI Corp. by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,410,797 shares of the company’s stock worth $158,568,000 after buying an additional 177,502 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of HNI Corp. during the second quarter worth about $7,390,000. 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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