Insider Sale: HNI Co. (NYSE: HNI) Director Sells 2,000 Shares


HNI Co. (NYSE: HNI) director Larry B. Porcellato sold 2,000 shares of the company in a trade on Wednesday, December 1. The stock was sold for an average price of $ 40.34, for a total trade of $ 80,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

HNI stock traded up $ 1.58 during Thursday’s session, reaching $ 41.03. The stock had a trading volume of 1,356 shares, compared to its average volume of 250,880. HNI Co. has a one-year low at $ 32.22 and a one-year high at $ 46.93 . The company has a debt to equity ratio of 0.29, a current ratio of 1.21, and a quick ratio of 0.82. The company has a market cap of $ 1.79 billion, a P / E ratio of 23.48 and a beta of 1.02. The company has a fifty-day moving average of $ 38.91.

HNI (NYSE: HNI) last released its results on Sunday, October 24. The business services provider reported earnings per share of $ 0.43 for the quarter, reaching Thomson Reuters’ consensus estimate of $ 0.43. The company posted revenue of $ 586.70 million in the quarter, compared to a consensus estimate of $ 592.14 million. HNI had a net margin of 3.46% and a return on equity of 13.13%. The company’s revenue grew 15.7% year-over-year. In the same quarter of the previous year, the company achieved EPS of $ 0.71.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1. Shareholders of record on Monday, November 22 received a dividend of $ 0.31. This represents an annualized dividend of $ 1.24 and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, November 19. HNI’s distribution rate is currently 73.81%.

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Institutional investors and hedge funds have recently increased or reduced their stakes in the company. First Trust Advisors LP increased its position in HNI equities by 64.6% during the 1st quarter. First Trust Advisors LP now owns 41,002 shares of the business services provider valued at $ 1,488,000 after purchasing an additional 16,098 shares in the last quarter. Jane Street Group LLC purchased a new equity stake in HNI during the 1st quarter valued at approximately $ 306,000. Citadel Advisors LLC increased its position in HNI shares by 209.8% during the 1st quarter. Citadel Advisors LLC now owns 142,909 shares of the business services provider valued at $ 5,653,000 after purchasing an additional 96,778 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in HNI equities by 12.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 18,317 shares of the business service provider valued at $ 725,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Morgan Stanley increased its position in HNI shares by 88.1% during the 1st quarter. Morgan Stanley now owns 113,888 shares of the business services provider valued at $ 4,505,000 after purchasing an additional 53,350 shares in the last quarter. 75.55% of the shares are held by institutional investors.

About HNI

HNI Corp. engages in the supply of workplace furnishings and home construction products. It operates in the following segments: Workplace Furniture and Home Construction Products. The Workplace Furnishings segment manufactures and markets a wide range of commercial and home office furniture, which includes panel and freestanding furniture systems, seating, storage, tables and architectural products.

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