HNI Corp. (NYSE:HNI) shares hit a new 52-week high during trading on Friday . The company traded as high as $54.12 and last traded at $54.05, with a volume of 247,483 shares trading hands. The stock had previously closed at $52.47.

Separately, Zacks Investment Research raised shares of HNI Corp. from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, April 27th.

The company has a market capitalization of $2.39 billion and a price-to-earnings ratio of 21.39. The company has a 50 day moving average of $48.98 and a 200 day moving average of $41.49.

HNI Corp. (NYSE:HNI) last issued its earnings results on Thursday, July 21st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. On average, analysts forecast that HNI Corp. will post $2.87 earnings per share for the current fiscal year.

In other HNI Corp. news, EVP Marco Molinari sold 46,360 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $43.15, for a total transaction of $2,000,434.00. Following the transaction, the executive vice president now owns 81,302 shares in the company, valued at $3,508,181.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $52.20, for a total transaction of $1,904,412.60. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in HNI Corp. by 25.6% in the fourth quarter. Principal Financial Group Inc. now owns 432,664 shares of the company’s stock valued at $15,602,000 after buying an additional 88,156 shares during the last quarter. California Public Employees Retirement System increased its position in HNI Corp. by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 140,000 shares of the company’s stock valued at $5,048,000 after buying an additional 1,300 shares during the last quarter. New York State Common Retirement Fund increased its position in HNI Corp. by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 113,563 shares of the company’s stock valued at $4,095,000 after buying an additional 1,200 shares during the last quarter. Rhumbline Advisers increased its position in HNI Corp. by 2.3% in the fourth quarter. Rhumbline Advisers now owns 79,693 shares of the company’s stock valued at $2,874,000 after buying an additional 1,770 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its position in HNI Corp. by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 28,592 shares of the company’s stock valued at $1,032,000 after buying an additional 9,698 shares during the last quarter.

HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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.

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