Larry B. Porcellato Sells 2,000 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI) Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now directly owns 37,880 shares in the company, valued at approximately $2,157,266. The trade was a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

HNI Stock Performance

HNI stock traded down $0.98 on Thursday, reaching $55.70. 94,912 shares of the company were exchanged, compared to its average volume of 255,461. The stock’s fifty day moving average price is $53.93 and its 200 day moving average price is $50.54. The firm has a market capitalization of $2.66 billion, a PE ratio of 21.97, a PEG ratio of 1.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68. HNI Co. has a 12 month low of $39.44 and a 12 month high of $58.42.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. HNI’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. On average, research analysts anticipate that HNI Co. will post 2.93 EPS for the current fiscal year.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.33 per share. The ex-dividend date was Monday, November 18th. This represents a $1.32 annualized dividend and a dividend yield of 2.37%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HNI. SG Americas Securities LLC bought a new position in shares of HNI in the third quarter valued at about $450,000. The Manufacturers Life Insurance Company raised its stake in shares of HNI by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,780 shares of the business services provider’s stock worth $1,161,000 after acquiring an additional 1,004 shares during the last quarter. Intech Investment Management LLC bought a new position in HNI in the 3rd quarter worth approximately $2,245,000. Panagora Asset Management Inc. acquired a new stake in shares of HNI in the 2nd quarter valued at $2,148,000. Finally, Farther Finance Advisors LLC raised its holdings in HNI by 4,746.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider’s stock worth $117,000 after purchasing an additional 2,136 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

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.