HNI Co. to Issue Quarterly Dividend of $0.33 (NYSE:HNI)

HNI Co. (NYSE:HNI) declared a quarterly dividend on Tuesday, February 11th, RTT News reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.33 per share by the business services provider on Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, February 24th.

HNI has raised its dividend by an average of 2.0% per year over the last three years and has raised its dividend every year for the last 14 years. HNI has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HNI to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 32.9%.

HNI Stock Performance

HNI stock opened at $46.72 on Friday. The business has a 50 day moving average of $49.83 and a 200-day moving average of $51.99. HNI has a 1 year low of $40.94 and a 1 year high of $58.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The company has a market capitalization of $2.23 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last released its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a net margin of 5.52% and a return on equity of 18.27%. On average, equities research analysts predict that HNI will post 3.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Insider Transactions at HNI

In related news, insider Brian Scott Smith sold 556 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the transaction, the director now owns 37,880 shares in the company, valued at approximately $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.36% of the company’s stock.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.