HNI Corp (NYSE:HNI) Director Larry B Porcellato recently sold company stock valued at a total of $174,560. The transactions occurred on two separate dates, with shares sold at prices ranging from $43.07 to $44.00.
On March 15, Porcellato sold 2,000 shares of HNI Corp at an average price of $43.28 per share. The sales continued on March 18, where another batch of 2,000 shares was sold, this time at a flat rate of $44 per share. These sales are part of regular stock trading activity disclosed by company insiders.
The prices at which the stocks were sold were determined by a weighted average, indicating that the transactions were made in multiple increments within the specified price ranges. After these transactions, Porcellato's remaining direct ownership in HNI Corp stands at 40,718.3527 shares, which includes reinvested dividends amounting to 693.0924 shares under the HNI Corporation Directors Deferred Compensation Plan.
HNI Corp, known for its office furniture production, has a standard industrial classification as an office furniture (no wood) manufacturer. The company's stock is publicly traded, and these recent insider transactions provide shareholders and potential investors with insight into executive actions within the company.
Investors and stakeholders in HNI Corp can request detailed information about the exact number of shares sold at each price point from the reporting person, as per the footnotes in the SEC filing. This level of transparency is a part of the company's commitment to maintaining good governance practices.
InvestingPro Insights
As HNI Corp (NYSE:HNI) makes headlines with recent insider stock sales, investors may look for additional context to understand the company's financial health and future prospects. InvestingPro metrics and tips provide deeper insights into the company's performance and stock valuation.
InvestingPro data shows that HNI Corp has a market capitalization of approximately $2.05 billion, with a price-to-earnings (P/E) ratio of 17.47 based on the last twelve months as of Q4 2023. This P/E ratio suggests that the company is trading at a multiple that reflects investors' expectations for future earnings growth. Additionally, the company has experienced a revenue growth of 3.06% over the last twelve months, indicating a steady increase in sales.
One of the standout InvestingPro Tips for HNI Corp is its track record of raising dividends, which it has done for 54 consecutive years. This consistent dividend history could be a sign of the company's commitment to returning value to shareholders. Moreover, HNI Corp's stock has seen a substantial price increase of 32.88% over the last six months, potentially signaling strong market confidence in the company's performance.
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