HNI Co. (NYSE:HNI) to Issue $0.33 Quarterly Dividend

HNI Co. (NYSE:HNI) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Monday, February 24th will be paid a dividend of 0.33 per share by the business services provider on Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, February 24th.

HNI has raised its dividend payment by an average of 2.0% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. HNI has a dividend payout ratio of 33.2% 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 Price Performance

Shares of HNI stock opened at $48.24 on Thursday. The firm has a market cap of $2.31 billion, a PE ratio of 18.70, a PEG ratio of 1.13 and a beta of 0.90. The stock has a 50 day moving average of $50.66 and a 200 day moving average of $52.20. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. HNI has a 12 month low of $40.94 and a 12 month high of $58.42.

Insider Transactions at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the sale, the director now directly owns 37,880 shares in the company, valued at $2,157,266. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.36% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

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.