Miguel M. Calado Sells 5,299 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI) Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the sale, the director now directly owns 31,159 shares in the company, valued at approximately $1,650,180.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

HNI Stock Performance

NYSE HNI traded up $0.13 during trading hours on Thursday, hitting $53.15. The company had a trading volume of 141,664 shares, compared to its average volume of 248,199. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. HNI Co. has a 1-year low of $31.02 and a 1-year high of $56.13. The company has a market cap of $2.51 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.86. The business has a 50 day moving average of $49.33 and a 200-day moving average of $45.80.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.18. HNI had a net margin of 4.39% and a return on equity of 19.15%. The company had revenue of $623.70 million during the quarter, compared to the consensus estimate of $637.74 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. HNI’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that HNI Co. will post 3.17 EPS for the current year.

HNI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.48%. HNI’s dividend payout ratio (DPR) is 97.78%.

Institutional Investors Weigh In On HNI

Several hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its holdings in shares of HNI by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock valued at $1,222,000 after buying an additional 338 shares during the period. Versor Investments LP grew its stake in shares of HNI by 5.2% during the 2nd quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock worth $365,000 after purchasing an additional 400 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of HNI by 6.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 436 shares in the last quarter. Arizona State Retirement System grew its position in HNI by 3.4% during the second quarter. Arizona State Retirement System now owns 13,237 shares of the business services provider’s stock worth $596,000 after buying an additional 436 shares during the period. Finally, Arjuna Capital increased its holdings in HNI by 1.6% in the second quarter. Arjuna Capital now owns 34,851 shares of the business services provider’s stock valued at $1,569,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on HNI shares. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Benchmark boosted their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

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.