HNI Co. (NYSE:HNI) Short Interest Down 19.9% in April

HNI Co. (NYSE:HNI) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 808,900 shares, a decline of 19.9% from the March 31st total of 1,010,000 shares. Based on an average trading volume of 410,000 shares, the short-interest ratio is currently 2.0 days. Currently, 1.9% of the company’s shares are sold short.

In related news, VP Donna D. Meade sold 1,038 shares of the company’s stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $41.22, for a total value of $42,786.36. Following the completion of the sale, the vice president now directly owns 26,478 shares of the company’s stock, valued at $1,091,423.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Miguel M. Calado sold 4,000 shares of the stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $40.37, for a total transaction of $161,480.00. Following the transaction, the director now owns 42,741 shares in the company, valued at $1,725,454.17. The disclosure for this sale can be found here. Insiders have sold 6,974 shares of company stock valued at $287,705 in the last ninety days. Insiders own 2.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of HNI. Norges Bank purchased a new position in HNI during the 4th quarter worth $18,693,000. SummerHaven Investment Management LLC purchased a new stake in shares of HNI during the fourth quarter worth about $515,000. Lazard Asset Management LLC purchased a new stake in shares of HNI during the fourth quarter worth about $11,547,000. BlackRock Inc. increased its holdings in shares of HNI by 4.6% during the fourth quarter. BlackRock Inc. now owns 4,782,988 shares of the business services provider’s stock valued at $164,822,000 after acquiring an additional 208,287 shares in the last quarter. Finally, Merriman Wealth Management LLC purchased a new position in shares of HNI in the 4th quarter valued at approximately $5,173,000. 73.23% of the stock is owned by hedge funds and other institutional investors.

Shares of HNI stock remained flat at $$43.00 during mid-day trading on Tuesday. 302,330 shares of the company’s stock traded hands, compared to its average volume of 368,909. HNI has a 1-year low of $19.09 and a 1-year high of $44.49. The stock has a market capitalization of $1.87 billion, a PE ratio of 27.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.85 and a current ratio of 1.20. The stock’s 50-day moving average price is $40.55 and its two-hundred day moving average price is $37.08.

HNI (NYSE:HNI) last posted its quarterly earnings data on Wednesday, April 28th. The business services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.09 by $0.27. The firm had revenue of $484.30 million during the quarter, compared to analyst estimates of $458.91 million. HNI had a net margin of 3.33% and a return on equity of 17.16%. HNI’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Monday, March 1st were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.22 annualized dividend and a dividend yield of 2.84%.

HNI has been the topic of several research reports. Sidoti raised shares of HNI from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Monday, March 15th. TheStreet downgraded HNI from a “b” rating to a “c+” rating in a report on Monday, March 1st.

About HNI

HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Taiwan, and Singapore. The company operates through two segments, Workplace Furnishings and Residential Building Products.

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