Insider Selling: HNI Co. (NYSE:HNI) CEO Sells $873,330.50 in Stock

HNI Co. (NYSE:HNI) CEO Jeffrey D. Lorenger sold 16,450 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.09, for a total transaction of $873,330.50. Following the sale, the chief executive officer now owns 296,892 shares in the company, valued at $15,761,996.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

HNI Stock Up 0.2 %

NYSE HNI opened at $53.15 on Friday. The company has a market capitalization of $2.51 billion, a P/E ratio of 39.37, a PEG ratio of 1.41 and a beta of 0.86. HNI Co. has a 12 month low of $31.02 and a 12 month high of $56.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The company’s 50 day simple moving average is $49.33 and its 200 day simple moving average is $45.80.

HNI (NYSE:HNI) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. The company had revenue of $623.70 million for the quarter, compared to analysts’ expectations of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities research analysts expect that HNI Co. will post 3.17 earnings per share for the current fiscal year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 23rd will be given a $0.33 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.48%. HNI’s dividend payout ratio (DPR) is 97.78%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HNI shares. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Hedge Funds Weigh In On HNI

A number of institutional investors have recently bought and sold shares of HNI. USA Financial Formulas acquired a new position in shares of HNI in the fourth quarter worth about $25,000. Quest Partners LLC purchased a new stake in shares of HNI in the 2nd quarter valued at approximately $29,000. FinTrust Capital Advisors LLC acquired a new position in HNI in the 4th quarter worth approximately $42,000. Northwest Financial Advisors purchased a new position in HNI during the 4th quarter worth approximately $134,000. Finally, Daiwa Securities Group Inc. acquired a new stake in HNI during the 1st quarter valued at $202,000. Hedge funds and other 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.