HNI Corporation (NYSE:HNI) Chairman Stanley A. Askren sold 12,000 shares of HNI Corporation stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $37.78, for a total transaction of $453,360.00. Following the completion of the sale, the chairman now directly owns 216,996 shares of the company’s stock, valued at approximately $8,198,108.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of HNI Corporation (NYSE HNI) traded up 1.15% during trading on Friday, reaching $38.70. The company’s stock had a trading volume of 156,167 shares. The firm has a market cap of $1.70 billion, a P/E ratio of 27.80 and a beta of 1.41. HNI Corporation has a one year low of $34.60 and a one year high of $56.94. The stock’s 50 day moving average is $36.41 and its 200 day moving average is $41.44.

HNI Corporation (NYSE:HNI) last released its earnings results on Monday, July 24th. The business services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The company had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $516.10 million. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that HNI Corporation will post $2.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.285 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.95%. HNI Corporation’s dividend payout ratio is currently 81.43%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in HNI. BlackRock Inc. grew its stake in shares of HNI Corporation by 22,922.7% in the first quarter. BlackRock Inc. now owns 4,523,960 shares of the business services provider’s stock worth $208,510,000 after acquiring an additional 4,504,310 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its stake in shares of HNI Corporation by 325.9% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 421,823 shares of the business services provider’s stock worth $16,818,000 after acquiring an additional 322,791 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of HNI Corporation by 6.9% in the first quarter. Vanguard Group Inc. now owns 3,870,218 shares of the business services provider’s stock worth $178,379,000 after acquiring an additional 251,212 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of HNI Corporation by 29.2% in the first quarter. Principal Financial Group Inc. now owns 964,292 shares of the business services provider’s stock worth $44,445,000 after acquiring an additional 217,977 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of HNI Corporation by 27.6% in the first quarter. Bank of New York Mellon Corp now owns 835,144 shares of the business services provider’s stock worth $38,492,000 after acquiring an additional 180,778 shares during the last quarter. 68.99% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of HNI Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. UBS AG raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of HNI Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Citigroup Inc. raised shares of HNI Corporation to an “outperform” rating and set a $42.00 price target for the company in a research report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.50.

About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line 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.

Insider Buying and Selling by Quarter for HNI Corporation (NYSE:HNI)

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