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

HNI Co. (NYSE:HNI) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.33 per share by the business services provider on Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 2.42%.

HNI has raised its dividend by an average of 1.6% annually over the last three years and has raised its dividend every year for the last 14 years. HNI has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect HNI to earn $3.60 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 36.7%.

HNI Stock Performance

HNI stock opened at $54.49 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI has a 1 year low of $37.38 and a 1 year high of $56.13. The company has a market cap of $2.60 billion, a PE ratio of 21.12, a PEG ratio of 1.45 and a beta of 0.85. The company’s 50-day moving average is $52.38 and its two-hundred day moving average is $48.92.

HNI (NYSE:HNI) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. Equities analysts anticipate that HNI will post 2.93 earnings per share for the current year.

Insider Transactions at HNI

In related news, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the completion of the sale, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock valued at $5,597,281 over the last 90 days. 3.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HNI has been the topic of several recent analyst reports. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Benchmark boosted their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

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.