HNI Co. (NYSE:HNI) Sees Significant Growth in Short Interest

HNI Co. (NYSE:HNI - Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 723,900 shares, an increase of 15.3% from the September 30th total of 627,600 shares. Based on an average daily volume of 242,200 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Ratings Changes

Several analysts have commented on HNI shares. StockNews.com lowered shares of HNI from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 13th. Benchmark lifted their price target on HNI from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, July 26th.

HNI Stock Down 3.2 %

NYSE:HNI traded down $1.68 during mid-day trading on Tuesday, hitting $50.15. 659,792 shares of the company's stock were exchanged, compared to its average volume of 247,488. HNI has a one year low of $33.21 and a one year high of $56.13. The business has a fifty day moving average price of $52.64 and a 200 day moving average price of $48.51. The company has a market cap of $2.37 billion, a PE ratio of 35.82, a P/E/G ratio of 1.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, August 23rd. HNI's dividend payout ratio (DPR) is 97.78%.

Insider Buying and Selling

In related news, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at $14,642,713.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian Scott Smith sold 2,284 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the sale, the insider now directly owns 11,902 shares of the company's stock, valued at $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total value of $3,556,070.64. Following the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at $14,642,713.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock worth $5,597,281 in the last 90 days. 3.36% of the stock is owned by company insiders.

Institutional Trading of HNI

Several institutional investors have recently bought and sold shares of the company. Eastern Bank purchased a new stake in HNI during the 3rd quarter valued at $27,000. Quest Partners LLC purchased a new position in shares of HNI during the second quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in HNI by 51.6% in the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock worth $36,000 after purchasing an additional 228 shares during the last quarter. Farther Finance Advisors LLC raised its stake in HNI by 4,746.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock valued at $117,000 after buying an additional 2,136 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of HNI in the 1st quarter worth $202,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

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.