HNI (NYSE:HNI) Stock Price Down 6.7% - Should You Sell?

Shares of HNI Co. (NYSE:HNI - Get Free Report) were down 6.7% during trading on Tuesday . The stock traded as low as $48.04 and last traded at $48.35. Approximately 43,156 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 244,709 shares. The stock had previously closed at $51.83.

Analyst Upgrades and Downgrades

HNI has been the topic of a number of research analyst reports. Benchmark boosted their target price 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 downgraded HNI from a "strong-buy" rating to a "buy" rating in a research note on Sunday, October 13th.

HNI Stock Performance

The company has a 50-day moving average price of $52.64 and a two-hundred day moving average price of $48.51. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.37 billion, a P/E ratio of 35.82, a PEG ratio of 1.39 and a beta of 0.84.

HNI Dividend Announcement

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

Insider Transactions at HNI

In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Scott Smith sold 2,284 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares of the company's stock, valued at approximately $642,708. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,582 shares of company stock valued at $5,597,281 in the last quarter. Insiders own 3.36% of the company's stock.

Institutional Trading of HNI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eastern Bank purchased a new stake in shares of HNI during the third quarter worth about $27,000. Quest Partners LLC bought a new stake in shares of HNI in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in shares of HNI by 51.6% during the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider's stock valued at $36,000 after buying an additional 228 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of HNI by 4,746.7% during the third quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock valued at $117,000 after acquiring an additional 2,136 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in HNI in the first quarter worth $202,000. Institutional investors own 75.26% of the company's stock.

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.