HNI Corp (NYSE:HNI) Director Stanley A. Askren sold 54,591 shares of HNI stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $37.90, for a total value of $2,068,998.90. Following the completion of the sale, the director now owns 287,287 shares in the company, valued at $10,888,177.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

HNI stock opened at $35.76 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. HNI Corp has a 1-year low of $32.55 and a 1-year high of $45.40. The company has a market capitalization of $1.57 billion, a P/E ratio of 18.15 and a beta of 1.45.

HNI (NYSE:HNI) last posted its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. HNI had a return on equity of 16.11% and a net margin of 4.23%. The firm had revenue of $611.10 million for the quarter, compared to the consensus estimate of $618.27 million. During the same period in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that HNI Corp will post 2.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were paid a $0.295 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.30%. HNI’s dividend payout ratio (DPR) is presently 59.90%.

Separately, Zacks Investment Research downgraded HNI from a “hold” rating to a “sell” rating in a research note on Friday, October 26th.

Several institutional investors have recently bought and sold shares of HNI. Millennium Management LLC purchased a new stake in shares of HNI in the first quarter valued at approximately $434,000. Bank of Montreal Can purchased a new stake in HNI during the second quarter worth $157,000. Creative Planning purchased a new stake in HNI during the second quarter worth $227,000. Aperio Group LLC boosted its position in HNI by 28.6% during the second quarter. Aperio Group LLC now owns 13,028 shares of the business services provider’s stock worth $485,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in HNI by 27.6% during the second quarter. Wells Fargo & Company MN now owns 610,413 shares of the business services provider’s stock worth $22,707,000 after purchasing an additional 131,929 shares in the last quarter. Hedge funds and other institutional investors own 71.43% of the company’s stock.

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About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.

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Insider Buying and Selling by Quarter for HNI (NYSE:HNI)

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