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

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 annualized dividend and a dividend yield of 2.42%.

HNI has raised its dividend payment by an average of 1.6% annually over the last three years and has raised its dividend annually for the last 14 consecutive 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 Stock Up 6.0 %

Shares of NYSE:HNI traded up $3.10 during midday trading on Wednesday, hitting $54.49. 509,160 shares of the company’s stock traded hands, compared to its average volume of 252,233. HNI has a twelve month low of $37.38 and a twelve month high of $56.13. The company has a market cap of $2.60 billion, a PE ratio of 19.90, a P/E/G ratio of 1.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The firm’s fifty day moving average price is $52.35 and its two-hundred day moving average price is $48.88.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on HNI shares. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note 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 research report on Friday, July 26th.

Insider Buying and Selling at HNI

In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction 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 $14,642,713.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total transaction of $280,635.04. Following the sale, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI stock in a transaction on Monday, August 12th. The stock was sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the completion of the transaction, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock valued at $5,597,281 in the last three months. Corporate 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.