Marshall H. Bridges Sells 4,138 Shares of HNI Co. (NYSE:HNI) Stock

HNI Co. (NYSE:HNI) CFO Marshall H. Bridges sold 4,138 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.50, for a total transaction of $221,383.00. Following the sale, the chief financial officer now directly owns 78,346 shares of the company’s stock, valued at $4,191,511. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

HNI Stock Up 0.3 %

HNI stock traded up $0.17 during trading on Monday, reaching $54.67. The stock had a trading volume of 295,685 shares, compared to its average volume of 252,759. The company has a market capitalization of $2.59 billion, a P/E ratio of 40.46, a PEG ratio of 1.47 and a beta of 0.86. The firm has a fifty day moving average price of $45.93 and a 200 day moving average price of $44.04. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. HNI Co. has a 1-year low of $27.92 and a 1-year high of $54.77.

HNI (NYSE:HNI) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.18. The business had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, equities analysts anticipate that HNI Co. will post 3.1 earnings per share for the current year.

HNI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, May 23rd. This is a positive change from HNI’s previous quarterly dividend of $0.32. HNI’s dividend payout ratio is 97.78%.

Analysts Set New Price Targets

A number of brokerages have commented on HNI. Benchmark boosted their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Friday.

Institutional Investors Weigh In On HNI

A number of institutional investors have recently modified their holdings of HNI. USA Financial Formulas acquired a new stake in shares of HNI in the 4th quarter valued at about $25,000. FinTrust Capital Advisors LLC acquired a new stake in HNI during the fourth quarter worth about $42,000. Northwest Financial Advisors acquired a new stake in HNI during the fourth quarter worth about $134,000. Daiwa Securities Group Inc. acquired a new stake in HNI during the first quarter worth about $202,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in HNI during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.