HNI Corp. (HNI) Sets New 1-Year High at $54.71
HNI Corp. (NYSE:HNI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $54.71 and last traded at $54.40, with a volume of 81,405 shares traded. The stock had previously closed at $53.61.
Separately, Zacks Investment Research upgraded HNI Corp. from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective on the stock in a report on Wednesday, April 27th.
The company has a market cap of $2.43 billion and a P/E ratio of 21.757. The company’s 50-day moving average is $51.20 and its 200 day moving average is $43.28.
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 Zacks’ consensus estimate of $0.65 by $0.03. Analysts forecast that HNI Corp. will post $2.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 19th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, August 17th.
In other news, insider Jerald K. Dittmer sold 42,957 shares of HNI Corp. stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $53.27, for a total transaction of $2,288,319.39. Following the transaction, the insider now owns 64,376 shares in the company, valued at approximately $3,429,309.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. Lorenger sold 36,483 shares of HNI Corp. stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $52.20, for a total value of $1,904,412.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in HNI Corp. stock. Principal Financial Group Inc. raised its stake in shares of HNI Corp. (NYSE:HNI) by 25.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 432,664 shares of the company’s stock after buying an additional 88,156 shares during the period. Principal Financial Group Inc. owned about 0.98% of HNI Corp. worth $15,602,000 at the end of the most recent 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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