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. Stockholders 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 dividend yield of 2.41%. The ex-dividend date is Monday, November 18th.

HNI has raised its dividend payment 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% 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

Shares of NYSE HNI opened at $54.80 on Friday. The firm has a market cap of $2.62 billion, a P/E ratio of 21.24, a PEG ratio of 1.45 and a beta of 0.85. HNI has a twelve month low of $37.38 and a twelve month high of $56.13. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $52.41 and a 200 day moving average of $48.96.

HNI (NYSE:HNI) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. HNI had a return on equity of 19.29% and a net margin of 4.83%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 earnings per share. As a group, research analysts expect that HNI will post 2.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HNI shares. Benchmark raised 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. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

Insider Buying and Selling

In other news, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 of the company’s stock, valued at $642,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 11,902 shares in the company, valued at $642,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.32, for a total value of $3,556,070.64. Following the completion of the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,582 shares of company stock valued at $5,597,281 over the last 90 days. Company insiders own 3.36% of the company’s stock.

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.