In a recent transaction filed with the Securities and Exchange Commission, Miguel M. Calado, a director of HNI Corp (NYSE:), sold 1,500 shares of the company’s common stock. The sale, which took place on March 18, 2024, was priced at US$44.0 per share, resulting in a total transaction consideration of US$66,000.
Following the sale, Calado’s remaining interest in HNI Corp will be 35,489.145 shares of common stock. It is noted that this figure includes reinvested dividends in the amount of 0.747 shares. Details of the transaction indicate that these were direct sales in which multiple transactions were made at the same price.
The document also states that Calado is willing to provide complete information regarding the number of shares sold at this price to HNI Corporation, any holder of HNI Corporation securities or to SEC staff upon request.
HNI Corp, known for manufacturing office furniture, is incorporated in Iowa and has a long history in the industry. This recent transaction gives current and potential investors insight into the trading activities of the company’s directors.
InvestingAbout Insights
With the recent sale of HNI Corp shares by Director Miguel M. Calado, it may be useful for market participants to consider the company’s financial condition and performance metrics. Notably, HNI Corp has a market capitalization of approximately US$2.05 billion, with trailing twelve month revenue growth of 3.06% as of Q4 2023. This growth is complemented by a strong quarterly revenue increase of 19.49% in the fourth quarter of 2023, demonstrating the company’s ability to expand its financial performance in a short time frame.
Investors may also be interested in the company’s profitability indicators. HNI Corporation’s P/E ratio is 39.33, and when looking at the trailing twelve months of Q4 2023, it becomes a more modest 17.5. This suggests that while the stock may currently be trading at a high earnings multiple, its historical returns provide a different perspective. Additionally, the company posted a robust gross margin of 39.0% over the same period.
Two key tips from InvestingPro that may be particularly relevant in light of the director’s share sale include the fact that HNI Corp has raised its dividend for 13 straight years and the company is expected to be profitable this year. These findings can be viewed as indicators of the company’s commitment to delivering shareholder returns and its strong financial outlook. In addition, HNI Corp has maintained its dividend payment for an impressive 54 consecutive years, which may reassure investors looking for stable income.
It’s worth noting that additional InvestingPro tips are available that provide a deeper dive into HNI Corp.’s financials and forecasts. Interested readers can access these tips to gain a better understanding of the company’s performance and future prospects. For those interested in subscribing to InvestingPro for more in-depth analysis, be sure to use the coupon code. PRONEWS24 to receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions.
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