HNI Corp Director Sells $66,000 Worth of Common Stock, According to Investing.com

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HNI Corp Director Sells ,000 Worth of Common Stock, According to Investing.com

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In a recent transaction filed with the Securities and Exchange Commission, Miguel M. Calado, director of HNI Corp (NYSE:), sold 1,500 shares of the company’s common stock. The sale, which occurred on March 18, 2024, was executed at a price of $44.0 per share, bringing the total transaction value to $66,000.

Following the sale, Calado’s remaining ownership interests in HNI Corp amount to 35,489.145 common shares. It is specified that this figure includes reinvested dividends of 0.747 shares. Transaction details indicate that these were direct sales, with multiple transactions executed at the same price.

The document also indicates that Calado is prepared to provide complete information regarding the number of shares sold at this price to HNI Corporation, any holder of securities of HNI Corporation or the staff of the Securities and Exchange Commission upon request.

HNI Corp, known for its office furniture manufacturing, is incorporated in Iowa and has a long history in the industry. This recent transaction provides current and potential investors with insight into the business activities of the company’s directors.

InvestingPro Insights

Amid the recent sell-off of HNI Corp shares by Director Miguel M. Calado, market participants may find it useful to consider the company’s financial health and performance indicators. Notably, HNI Corp has a market capitalization of approximately $2.05 billion and has seen revenue growth of 3.06% over the trailing twelve months as of Q4 2023. This growth is complemented by an increase significant quarterly revenue growth of 19.49% in the fourth quarter of 2023, demonstrating the company’s ability to grow its finances in a short period of time.

Investors may also be interested in the company’s profitability indicators. HNI Corp has a P/E ratio of 39.33, which adjusts to a more modest 17.5 when looking at the trailing twelve months as of Q4 2023. This suggests that while the stock may currently trading at a high earnings multiple, its historical earnings provide another perspective. Additionally, the company demonstrated a strong gross profit margin of 39.0% over the same period.

Two key InvestingPro tips that could be particularly relevant in light of the director’s stock sale include the fact that HNI Corp has increased its dividend for 13 consecutive years and that the company is expected to be profitable this year. This information could be considered indicators of the company’s commitment to shareholder returns and its stable financial outlook. Additionally, HNI Corp has maintained dividend payments for an impressive 54 consecutive years, which may reassure investors looking for consistent income.

It’s worth noting that there are additional InvestingPro tips available, which delve deeper into HNI Corp’s financial data and forecasts. Interested readers can access these tips to gain a more complete understanding of the company’s performance and future prospects. For those who wish to subscribe InvestPro for a more in-depth analysis, consider using the promo code PRONEWS24 to benefit from an additional 10% reduction on an annual or biannual Pro and Pro+ subscription.

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