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Brian Scott Smith, President of Hearth & Home Technologies at HNI Corp (NYSE:HNI), has recently sold shares worth approximately $87,206 according to a Form 4 filing with the Securities and Exchange Commission. The transactions, conducted on February 18 and 19, involved the sale of a total of 1,779 shares of common stock.
The shares were sold at prices ranging from $48.62 to $49.90 per share. Following these transactions, Smith retains direct ownership of 13,171.2186 shares in HNI Corp. Additionally, he holds 1,498.862 shares indirectly through a profit-sharing retirement plan. These transactions were executed under a prearranged 10b5-1 trading plan established on May 4, 2024.
In other recent news, HNI Corp reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.87, which surpassed analyst expectations of $0.81. Despite this positive earnings result, the company’s revenue fell short of projections, recording $642.5 million against an anticipated $668.08 million. Notably, HNI’s operating margin reached 8.6%, the highest since 2005, driven by a 44% increase in operating profit from its Workplace Furnishings segment. The company anticipates a slight revenue decline in the first quarter of 2025 but projects growth beginning in the second quarter. Analysts from Water Tower Research and Sidoti have noted the company’s strong margin performance despite challenging market conditions. HNI Corp’s strategic initiatives and operational efficiencies are expected to support double-digit non-GAAP EPS growth in 2025. The company’s leadership remains optimistic about its future performance, emphasizing continued investment in growth and customer experience.
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