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

HNI Co. (NYSE:HNI) declared a quarterly dividend on Wednesday, November 6th,RTT News reports. Stockholders of record on Monday, November 18th will be paid 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 dividend yield of 2.41%. The ex-dividend date is Monday, November 18th.

HNI has increased its dividend payment by an average of 1.6% 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 37.9% 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

NYSE HNI opened at $54.88 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.58 and a beta of 0.85. 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 52-week low of $38.55 and a 52-week high of $57.59. The company has a fifty day moving average of $52.77 and a 200-day moving average of $49.49.

HNI (NYSE:HNI) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $712.75 million. During the same quarter in the prior year, the company earned $0.93 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts predict that HNI will post 2.93 EPS for the current fiscal year.

Insider Activity

In other HNI news, Director Mary A. Bell sold 5,000 shares of HNI stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total transaction of $259,250.00. Following the transaction, the director now owns 74,401 shares of the company’s stock, valued at $3,857,691.85. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now owns 11,902 shares in the company, valued at approximately $642,708. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,480 shares of company stock valued at $2,041,210 in the last ninety days. 3.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Benchmark increased their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

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.