Miguel M. Calado Sells 5,299 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI - Get Free Report) Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now owns 31,159 shares of the company's stock, valued at approximately $1,650,180.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

HNI Price Performance

Shares of NYSE HNI traded up $0.13 during mid-day trading on Thursday, reaching $53.15. The company's stock had a trading volume of 141,664 shares, compared to its average volume of 248,199. The firm has a market capitalization of $2.51 billion, a PE ratio of 39.37, a P/E/G ratio of 1.41 and a beta of 0.86. 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 stock has a fifty day moving average of $49.33 and a two-hundred day moving average of $45.80. HNI Co. has a 52 week low of $31.02 and a 52 week high of $56.13.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.18. HNI had a return on equity of 19.15% and a net margin of 4.39%. The company had revenue of $623.70 million during the quarter, compared to analyst estimates of $637.74 million. During the same period in the prior year, the company earned $0.55 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that HNI Co. will post 3.17 EPS for the current fiscal year.

HNI Dividend Announcement

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

Hedge Funds Weigh In On HNI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNI. Norges Bank bought a new position in HNI during the fourth quarter valued at approximately $13,368,000. Vanguard Group Inc. raised its position in HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider's stock valued at $251,208,000 after purchasing an additional 287,735 shares during the period. Franklin Resources Inc. raised its position in HNI by 20.0% during the fourth quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider's stock valued at $51,744,000 after purchasing an additional 206,419 shares during the period. Edgestream Partners L.P. purchased a new stake in HNI during the first quarter valued at approximately $4,267,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in HNI during the fourth quarter valued at approximately $3,906,000. 75.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Benchmark boosted their price target on HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. StockNews.com upgraded HNI from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 15th.

About HNI

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.

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