Shares of HNI Corp. (NYSE:HNI) shot up 1.6% during trading on Friday . The stock traded as high as $53.79 and last traded at $53.55, with a volume of 95,189 shares changing hands. The stock had previously closed at $52.70.

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

The company has a market capitalization of $2.38 billion and a price-to-earnings ratio of 21.30. The stock has a 50 day moving average price of $51.01 and a 200-day moving average price of $42.98.

HNI Corp. (NYSE:HNI) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Analysts forecast that HNI Corp. will post $2.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 19th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 17th.

In related news, Director Larry B. Porcellato sold 5,000 shares of HNI Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the director now owns 33,590 shares in the company, valued at $1,770,864.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley A. Askren sold 58,676 shares of HNI Corp. stock in a transaction on Friday, July 29th. The shares were sold at an average price of $52.30, for a total transaction of $3,068,754.80. Following the completion of the sale, the chairman now owns 254,378 shares in the company, valued at approximately $13,303,969.40. The disclosure for this sale can be found here.

An institutional investor recently raised its position in HNI Corp. stock. New York State Common Retirement Fund increased its stake in shares of HNI Corp. (NYSE:HNI) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 113,563 shares of the company’s stock after buying an additional 1,200 shares during the period. New York State Common Retirement Fund owned about 0.26% of HNI Corp. worth $4,095,000 as of its most recent SEC filing.

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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