Insider Selling: HNI Corp (HNI) Chairman Sells 11,264 Shares of Stock
HNI Corp (NYSE:HNI) Chairman Stanley A. Askren sold 11,264 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $46.01, for a total transaction of $518,256.64. The sale was disclosed in a legal filing with the SEC, which is available through this link.
HNI Corp (NYSE:HNI) traded down 0.06% during mid-day trading on Tuesday, hitting $46.23. 167,567 shares of the stock were exchanged. The stock has a 50 day moving average of $45.95 and a 200-day moving average of $47.56. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 24.59 and a beta of 1.44. HNI Corp has a 52-week low of $37.24 and a 52-week high of $56.96.
HNI Corp (NYSE:HNI) last posted its earnings results on Wednesday, February 8th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.03. HNI Corp had a net margin of 3.88% and a return on equity of 23.75%. The business earned $581.30 million during the quarter, compared to analysts’ expectations of $581.50 million. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that HNI Corp will post $2.94 EPS for the current fiscal year.
This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/04/18/insider-selling-hni-corp-hni-chairman-sells-11264-shares-of-stock.html
ILLEGAL ACTIVITY NOTICE: This piece was first reported by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/04/18/insider-selling-hni-corp-hni-chairman-sells-11264-shares-of-stock.html.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in HNI Corp by 4.3% in the third quarter. Rhumbline Advisers now owns 85,167 shares of the business services provider’s stock worth $3,390,000 after buying an additional 3,516 shares during the period. Teachers Advisors LLC raised its position in HNI Corp by 10.2% in the third quarter. Teachers Advisors LLC now owns 85,426 shares of the business services provider’s stock worth $3,400,000 after buying an additional 7,934 shares during the period. BlackRock Fund Advisors raised its position in HNI Corp by 5.6% in the third quarter. BlackRock Fund Advisors now owns 2,328,923 shares of the business services provider’s stock worth $92,691,000 after buying an additional 122,473 shares during the period. BlackRock Investment Management LLC raised its position in HNI Corp by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 278,653 shares of the business services provider’s stock worth $11,090,000 after buying an additional 789 shares during the period. Finally, BlackRock Advisors LLC raised its position in HNI Corp by 7.6% in the third quarter. BlackRock Advisors LLC now owns 29,128 shares of the business services provider’s stock worth $1,159,000 after buying an additional 2,066 shares during the period. 67.13% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of HNI Corp from a “hold” rating to a “sell” rating in a research report on Monday, April 10th. Sidoti raised shares of HNI Corp from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 28th. Finally, Off Wall Street reissued a “strong sell” rating and set a $35.00 price objective on shares of HNI Corp in a research report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.33.
HNI Corp Company Profile
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.
Receive News & Ratings for HNI Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI Corp and related companies with MarketBeat.com's FREE daily email newsletter.