HNI Corp. (HNI) Reaches New 52-Week High at $54.71
HNI Corp. (NYSE:HNI) shares hit 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 changing hands. The stock had previously closed at $53.61.
Separately, Zacks Investment Research upgraded shares of HNI Corp. from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, April 27th.
The company has a market cap of $2.42 billion and a price-to-earnings ratio of 21.67. The company’s 50-day moving average price is $51.52 and its 200 day moving average price is $43.53.
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 analysts’ consensus estimates of $0.65 by $0.03. Equities research analysts forecast that HNI Corp. will post $2.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 19th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.10 dividend on an annualized basis and a yield of 2.02%.
In related news, insider Jerald K. Dittmer sold 42,957 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $53.27, for a total transaction of $2,288,319.39. Following the completion of the sale, the insider now owns 64,376 shares in the company, valued at $3,429,309.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Stanley A. Askren sold 58,676 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $52.30, for a total transaction of $3,068,754.80. Following the sale, the chairman now owns 254,378 shares of the company’s stock, 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. Principal Financial Group Inc. increased its position in HNI Corp. (NYSE:HNI) by 25.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.98% of HNI Corp. worth $15,602,000 at the end of the most recent reporting period.
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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