Office and contract furniture giant HNI has named Vincent Berger as its new chief financial officer and executive vice president, effective Dec. 28. The appointment comes with the retirement of Marshall Bridges, who held the role previously. Bridges worked at HNI for nearly 11 years in various leadership roles.
MUSCATINE, Iowa – Office and contract furniture giant HNI says its profit transformation initiatives and Kimball International acquisition continue to fuel growth in its Workplace Furnishings segment, delivering increases in the second quarter ended June 29.
Director Miguel Calado has executed a sale of 2,500 shares of HNI Corp (HNI) on March 7, 2024, according to a recent SEC filing. The transaction was carried out at a price of $42.99 per share, which resulted in a total value of $107,475.
MUSCATINE, Iowa, February 22, 2024–(BUSINESS WIRE)–HNI Corporation (NYSE: HNI) today announced sales of $2.434 billion and net income of $49.2 million for the full year ended December 30, 2023. GAAP net income per diluted share was $1.09, compared to $2.94 in the prior year. Non-GAAP net income per diluted share was $2.65, compared to $2.20 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.
Founded in 1947, HNI Corporation is a leading manufacturer of workplace furnishings and residential building products. Since its ]inception, HNI has prioritized and valued their members and customers time by striving to operate at maximum efficiency to achieve the best results.
Focused on providing high levels of quality and customer service, HNI over the last 75 years has grown into a global leader and premier supplier of office furniture, fireplaces, and heating stoves. With a team of expert analysts and managers, the company manages 400 suppliers and procures 400,000 different parts.
MUSCATINE, Iowa — HNI Corporation has been recognized by the U.S. Department of Energy (DOE) for achieving its scope 1 and 2 emissions reduction goal as a partner in the Better Climate Challenge. HNI has reduced scope 1 and 2 emissions by 64% through the purchase of renewable electricity and energy efficiency efforts across its portfolio.
HNI Corp. shares closed 0.8% higher than its previous 52 week high, giving the company a market cap of $1B. The stock is currently up 28.2% year-to-date, up 33.1% over the past 12 months, and up 0.5% over the past five years. This week, the Dow Jones Industrial Average fell 0.3%, and the S&P 500 rose 0.5%.
Fintel reports that on August 9, 2023, Benchmark maintained coverage of HNI (NYSE:HNI) with a Buy recommendation.
Analyst Price Forecast Suggests 22.72% Upside
As of August 2, 2023, the average one-year price target for HNI is 35.70. The forecasts range from a low of 34.34 to a high of $37.80. The average price target represents an increase of 22.72% from its latest reported closing price of 29.09.
MUSCATINE, Iowa–(BUSINESS WIRE)–HNI Corporation (NYSE: HNI) today announced sales for the second quarter ended July 1, 2023 of $563.5 million and a net loss of $12.8 million. GAAP earnings per diluted share declined from $0.72 in the prior year to ($0.30) in the current year primarily due to transaction expenses related to the acquisition of Kimball International. When excluding acquisition expenses and select other items, non-GAAP net income per diluted share was $0.55, compared to $0.52 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.
On July 31, 2023, Victory Capital Management Inc. revealed in its latest Form 13F filing with the Securities and Exchange Commission (SEC) that it had increased its holdings in HNI Co. (NYSE:HNI) by a staggering 27.7% during the first quarter. This marked a significant boost for Victory Capital as it acquired an additional 100,407 shares of the business services provider’s stock, bringing its total ownership to 463,040 shares. The value of these shares amounted to an impressive $12,891,000 according to the most recent SEC filing.
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