HNI Co. (HNI) to Issue Quarterly Dividend of $0.33 on December 2nd

HNI Co. (NYSE:HNI) announced a quarterly dividend on Wednesday, November 6th,RTT News reports. Shareholders 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 yield of 2.41%. The ex-dividend date of this dividend 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% indicating that 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 Price Performance

HNI stock opened at $54.88 on Friday. HNI has a 52 week low of $38.55 and a 52 week high of $57.59. The company’s 50 day moving average price is $52.77 and its two-hundred day moving average price is $49.49. The stock has a market cap 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 quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

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

Insiders Place Their Bets

In related news, CEO Jeffrey D. Lorenger sold 9,447 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $53.42, for a total transaction of $504,658.74. Following the completion of the transaction, the chief executive officer now owns 296,892 shares of the company’s stock, valued at approximately $15,859,970.64. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,480 shares of company stock worth $2,041,210 over the last 90 days. Corporate insiders own 3.36% of the company’s stock.

Wall Street Analysts Forecast Growth

HNI has been the subject of a number of research analyst reports. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Benchmark upped their price objective on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

HNI Company Profile

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.