HNI Corporation (NYSE:HNI) Chairman Stanley A. Askren sold 12,000 shares of HNI Corporation stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $37.78, for a total value of $453,360.00. Following the sale, the chairman now directly owns 216,996 shares of the company’s stock, valued at $8,198,108.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of HNI Corporation (NYSE HNI) traded up 1.15% during midday trading on Friday, hitting $38.70. The stock had a trading volume of 156,167 shares. HNI Corporation has a one year low of $34.60 and a one year high of $56.94. The firm has a 50 day moving average of $36.41 and a 200-day moving average of $41.44. The company has a market cap of $1.70 billion, a P/E ratio of 27.80 and a beta of 1.41.

HNI Corporation (NYSE:HNI) last posted its quarterly earnings data on Monday, July 24th. The business services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The company had revenue of $514.50 million for the quarter, compared to analyst estimates of $516.10 million. During the same quarter in the prior year, the business earned $0.68 EPS. HNI Corporation’s revenue was down 4.1% compared to the same quarter last year. On average, analysts forecast that HNI Corporation will post $2.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.95%. HNI Corporation’s dividend payout ratio is presently 81.43%.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in shares of HNI Corporation by 7.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 277,050 shares of the business services provider’s stock valued at $12,770,000 after acquiring an additional 19,771 shares during the period. Comerica Bank increased its stake in shares of HNI Corporation by 3.7% during the first quarter. Comerica Bank now owns 34,256 shares of the business services provider’s stock valued at $1,618,000 after acquiring an additional 1,222 shares during the period. SG Americas Securities LLC increased its stake in shares of HNI Corporation by 102.7% during the second quarter. SG Americas Securities LLC now owns 13,877 shares of the business services provider’s stock valued at $553,000 after acquiring an additional 7,031 shares during the period. Bank of Montreal Can increased its stake in shares of HNI Corporation by 27.2% during the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after acquiring an additional 1,030 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of HNI Corporation by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,270 shares of the business services provider’s stock valued at $48,820,000 after acquiring an additional 17,867 shares during the period. Institutional investors and hedge funds own 68.99% of the company’s stock.

A number of analysts have issued reports on HNI shares. Citigroup Inc. raised HNI Corporation to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, August 23rd. UBS AG raised HNI Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 23rd. TheStreet downgraded HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Raymond James Financial, Inc. raised HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, August 23rd. Finally, Zacks Investment Research raised HNI Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.50.

About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

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

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