HNI Co. (HNI) to Issue Quarterly Dividend of $0.33 on March 5th

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 2.83%. The ex-dividend date is Monday, February 24th.

HNI has increased 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. 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 Trading Down 4.9 %

HNI stock opened at $46.72 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.10. The company’s 50-day simple moving average is $49.83 and its 200 day simple moving average is $51.99. HNI has a 52 week low of $40.94 and a 52 week high of $58.42. The company has a market capitalization of $2.23 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. HNI had a net margin of 5.52% and a return on equity of 18.27%. The business had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million. As a group, sell-side analysts anticipate that HNI will post 3.6 earnings per share for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

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.