HNI Co. (NYSE:HNI) to Issue Quarterly Dividend of $0.34

HNI Co. (NYSE:HNI) declared a quarterly dividend on Monday, May 12th, RTT News reports. Shareholders of record on Friday, May 23rd will be given a dividend of 0.34 per share by the business services provider on Wednesday, June 11th. This represents a $1.36 dividend on an annualized basis and a yield of 2.77%. This is a 3.0% increase from HNI’s previous quarterly dividend of $0.33.

HNI has increased its dividend by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 14 years. HNI has a dividend payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect HNI to earn $4.01 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 32.9%.

HNI Stock Up 0.4%

HNI stock traded up $0.19 during mid-day trading on Tuesday, reaching $49.10. The company had a trading volume of 6,404 shares, compared to its average volume of 305,061. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 0.68. The stock has a 50 day simple moving average of $43.26 and a two-hundred day simple moving average of $48.51. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.14 and a beta of 0.91. HNI has a 52 week low of $39.76 and a 52 week high of $58.42.

HNI (NYSE:HNI) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $599.80 million during the quarter, compared to the consensus estimate of $580.47 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, equities analysts predict that HNI will post 3.6 earnings per share for the current fiscal year.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the transaction, the insider now directly owns 14,394 shares in the company, valued at approximately $718,260.60. The trade was a 3.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 21st.

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.