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

Shares of HNI Corporation (NYSE HNI) opened at 38.70 on Friday. The company has a 50-day moving average price of $36.41 and a 200-day moving average price of $41.44. HNI Corporation has a 52 week low of $34.60 and a 52 week high of $56.94. The company has a market capitalization of $1.70 billion, a PE ratio of 27.80 and a beta of 1.41.

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

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

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A number of hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in HNI Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,514 shares of the business services provider’s stock valued at $715,000 after acquiring an additional 200 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in HNI Corporation by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,640 shares of the business services provider’s stock valued at $951,000 after acquiring an additional 520 shares during the period. Thrivent Financial For Lutherans lifted its holdings in HNI Corporation by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 8,380 shares of the business services provider’s stock valued at $386,000 after acquiring an additional 730 shares during the period. Great West Life Assurance Co. Can lifted its holdings in HNI Corporation by 3.1% in the first quarter. Great West Life Assurance Co. Can now owns 26,163 shares of the business services provider’s stock valued at $1,205,000 after acquiring an additional 791 shares during the period. Finally, Swiss National Bank lifted its holdings in HNI Corporation by 1.4% in the first quarter. Swiss National Bank now owns 73,100 shares of the business services provider’s stock valued at $3,369,000 after acquiring an additional 1,000 shares during the period. 68.99% of the stock is currently owned by institutional investors.

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