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

HNI Co. (NYSE:HNI) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Investors 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 yield of 2.42%.

HNI has raised its dividend by an average of 1.6% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. HNI has a dividend payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE HNI traded up $3.10 during trading hours on Wednesday, hitting $54.49. The company had a trading volume of 509,160 shares, compared to its average volume of 252,233. HNI has a fifty-two week low of $37.38 and a fifty-two week high of $56.13. The firm has a market cap of $2.60 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.41 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. The business has a fifty day simple moving average of $52.35 and a 200-day simple moving average of $48.88.

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

Insiders Place Their Bets

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the transaction, the insider now owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction on Tuesday, October 15th. The shares were 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 owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,582 shares of company stock worth $5,597,281. 3.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HNI has been the topic of a number of research analyst reports. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Benchmark increased their price target on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note 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.