In a recent transaction filed with the Securities and Exchange Commission, Miguel M. Calado, a director at HNI Corp (NYSE:HNI), sold 1,500 shares of the company's common stock. The sale, which took place on March 18, 2024, was executed at a price of $44.0 per share, resulting in a total transaction value of $66,000.
Following the sale, Calado's remaining holdings in HNI Corp amount to 35,489.145 shares of common stock. It is noted that this figure includes reinvested dividends of 0.747 shares. The transaction details indicate that these were direct sales, with multiple trades executed at the same price.
The document also states that Calado is ready to provide full information regarding the number of shares sold at this price to HNI Corporation, any security holder 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 trading activities of the company's directors.
InvestingPro Insights
Amidst the recent sale of HNI Corp shares by director Miguel M. Calado, market participants may find it useful to consider the company's financial health and performance metrics. Notably, HNI Corp has a market capitalization of approximately $2.05 billion and has experienced a revenue growth of 3.06% over the last twelve months as of Q4 2023. This growth is complemented by a significant quarterly revenue increase of 19.49% in Q4 2023, showcasing the company's ability to expand its financials within a short timeframe.
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 considering the last twelve months as of Q4 2023. This suggests that while the stock may be trading at a high earnings multiple currently, its historical earnings provide a different perspective. Furthermore, the company has demonstrated a robust gross profit margin of 39.0% over the same period.
Two key InvestingPro Tips that might be particularly relevant in light of the director's stock sale include the fact that HNI Corp has raised its dividend for 13 consecutive years, and the company is expected to be profitable this year. These insights could be seen as 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 is worth noting that there are additional InvestingPro Tips available, which provide a deeper dive into HNI Corp's financials and forecasts. Interested readers can access these tips to gain a more comprehensive understanding of the company's performance and future prospects. For those looking to subscribe to InvestingPro for more in-depth analysis, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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