HNI Co. (NYSE:HNI) Declares $0.33 Quarterly Dividend

HNI Co. (NYSE:HNI) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders 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 2.71%.

HNI has increased its dividend payment by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. HNI has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities 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 traded down $0.64 on Wednesday, reaching $48.73. The company had a trading volume of 14,258 shares, compared to its average volume of 278,500. The stock has a market cap of $2.33 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. HNI has a fifty-two week low of $40.94 and a fifty-two week high of $58.42. The company’s fifty day moving average is $50.83 and its 200 day moving average is $52.23.

Analyst Ratings Changes

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Insider Transactions at HNI

In other news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the sale, the director now directly owns 37,880 shares in the company, valued at approximately $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.