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

HNI Co. (NYSE:HNI) announced a quarterly dividend on Wednesday, November 6th, RTT News reports. Stockholders of record on Monday, November 18th will be paid 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 by an average of 1.6% per year over the last three years and has increased its dividend every year for the last 14 years. HNI has a 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 Up 6.0 %

Shares of HNI opened at $54.49 on Thursday. 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 price of $52.38 and a two-hundred day moving average price of $48.92. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.45 and a beta of 0.85. HNI has a 12 month low of $37.38 and a 12 month high of $56.13.

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

Insiders Place Their Bets

In related news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction dated 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 transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey D. Lorenger sold 9,447 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $53.42, for a total transaction of $504,658.74. Following the transaction, the chief executive officer now owns 296,892 shares in the company, valued at approximately $15,859,970.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,582 shares of company stock valued at $5,597,281. 3.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HNI has been the topic of several analyst reports. Benchmark upped their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

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.