HNI (NYSE:HNI) Sets New 52-Week Low on Insider Selling

Posted by on Jun 16th, 2022

HNI Co. (NYSE:HNI – Get Rating)’s share price hit a new 52-week low during trading on Thursday following insider selling activity. The stock traded as low as $33.53 and last traded at $33.58, with a volume of 1486 shares traded. The stock had previously closed at $35.87.

Specifically, Director Larry B. Porcellato sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $36.10, for a total value of $54,150.00. Following the sale, the director now owns 43,018 shares of the company’s stock, valued at approximately $1,552,949.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

HNI has been the topic of a number of research analyst reports. StockNews.com began coverage on HNI in a report on Thursday, March 31st. They issued a “buy” rating on the stock. TheStreet cut shares of HNI from a “b” rating to a “c+” rating in a report on Wednesday, March 16th.

The business’s 50-day moving average price is $36.71 and its 200 day moving average price is $39.17. The stock has a market capitalization of $1.40 billion, a PE ratio of 24.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.71 and a current ratio of 1.15.

HNI (NYSE:HNI – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The business services provider reported $0.33 EPS for the quarter. HNI had a net margin of 2.60% and a return on equity of 11.55%. The firm had revenue of $572.30 million during the quarter, compared to analyst estimates of $558.69 million. During the same period in the previous year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Friday, May 27th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This is a positive change from HNI’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.87%. HNI’s payout ratio is 95.52%.

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in HNI during the fourth quarter valued at about $17,274,000. Invesco Ltd. boosted its position in HNI by 21.8% during the third quarter. Invesco Ltd. now owns 638,116 shares of the business services provider’s stock valued at $23,432,000 after buying an additional 114,009 shares during the period. Eaton Vance Management boosted its position in HNI by 49.0% during the third quarter. Eaton Vance Management now owns 328,380 shares of the business services provider’s stock valued at $12,024,000 after buying an additional 108,004 shares during the period. Victory Capital Management Inc. boosted its position in HNI by 59.9% during the first quarter. Victory Capital Management Inc. now owns 284,767 shares of the business services provider’s stock valued at $10,149,000 after buying an additional 106,709 shares during the period. Finally, BlackRock Inc. boosted its position in HNI by 1.4% during the fourth quarter. BlackRock Inc. now owns 6,952,909 shares of the business services provider’s stock valued at $292,369,000 after buying an additional 99,185 shares during the period. Institutional investors own 72.97% of the company’s stock.

HNI Company Profile (NYSE:HNI)

HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products primarily in the United States. 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, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, Lamex, and HNI India brands.

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