Shares of HNI Corp. (NYSE:HNI) traded down 1.8% during mid-day trading on Wednesday . The stock traded as low as $52.60 and last traded at $52.64, with a volume of 75,123 shares changing hands. The stock had previously closed at $53.63.
The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 20.89 and a beta of 1.40. The stock’s 50 day moving average is $53.83 and its 200-day moving average is $45.80.
HNI Corp. (NYSE:HNI) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. Analysts predict that HNI Corp. will post $2.87 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 19th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 17th. HNI Corp.’s dividend payout ratio is 43.82%.
In other HNI Corp. news, 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 in the company, valued at $13,303,969.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. Lorenger sold 36,483 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $52.20, for a total value of $1,904,412.60. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HNI. Vanguard Group Inc. increased its stake in HNI Corp. by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,410,797 shares of the company’s stock worth $158,568,000 after buying an additional 177,502 shares during the last quarter. BlackRock Fund Advisors increased its stake in HNI Corp. by 3.5% in the second quarter. BlackRock Fund Advisors now owns 2,206,450 shares of the company’s stock worth $102,578,000 after buying an additional 75,273 shares during the last quarter. State Street Corp increased its stake in HNI Corp. by 0.6% in the second quarter. State Street Corp now owns 1,345,211 shares of the company’s stock worth $62,538,000 after buying an additional 7,364 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in HNI Corp. by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,297,462 shares of the company’s stock worth $60,319,000 after buying an additional 25,803 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in HNI Corp. by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 978,620 shares of the company’s stock worth $45,495,000 after buying an additional 28,228 shares during the last quarter. Institutional investors and hedge funds own 68.01% of the company’s stock.
About HNI Corp.
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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