HNI Corp. (HNI) Sees Strong Trading Volume
HNI Corp. (NYSE:HNI) shares saw an uptick in trading volume on Wednesday . 511,224 shares were traded during mid-day trading, an increase of 80% from the previous session’s volume of 283,918 shares.The stock last traded at $40.13 and had previously closed at $40.97.
Separately, Raymond James Financial Inc. lowered shares of HNI Corp. from an “outperform” rating to a “market perform” rating in a report on Tuesday.
The firm has a 50 day moving average of $53.24 and a 200-day moving average of $46.27. The stock has a market cap of $1.78 billion, a P/E ratio of 15.96 and a beta of 1.40.
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HNI Corp. (NYSE:HNI) last released its earnings results on Thursday, July 21st. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. HNI Corp. had a net margin of 5.06% and a return on equity of 26.76%. Equities research analysts anticipate that HNI Corp. will post $2.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 19th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.74%. The ex-dividend date was Wednesday, August 17th. HNI Corp.’s dividend payout ratio is currently 43.82%.
In other HNI Corp. news, insider Jerald K. Dittmer sold 8,200 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $55.89, for a total value of $458,298.00. Following the transaction, the insider now directly owns 29,619 shares of the company’s stock, valued at approximately $1,655,405.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $1,904,412.60. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in HNI. Renaissance Technologies LLC raised its position in HNI Corp. by 81.4% in the first quarter. Renaissance Technologies LLC now owns 426,000 shares of the company’s stock valued at $16,686,000 after buying an additional 191,200 shares in the last quarter. Prudential Financial Inc. raised its position in HNI Corp. by 50.7% in the first quarter. Prudential Financial Inc. now owns 52,937 shares of the company’s stock valued at $2,074,000 after buying an additional 17,800 shares in the last quarter. UBS Group AG raised its position in HNI Corp. by 2.3% in the first quarter. UBS Group AG now owns 15,480 shares of the company’s stock valued at $606,000 after buying an additional 343 shares in the last quarter. BlackRock Inc. raised its position in HNI Corp. by 7.8% in the first quarter. BlackRock Inc. now owns 17,501 shares of the company’s stock valued at $685,000 after buying an additional 1,265 shares in the last quarter. Finally, BlackRock Group LTD raised its position in HNI Corp. by 21.3% in the first quarter. BlackRock Group LTD now owns 32,074 shares of the company’s stock valued at $1,257,000 after buying an additional 5,638 shares in the last quarter. 68.01% of the stock is currently owned by hedge funds and other institutional investors.
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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