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

HNI Co. (NYSE:HNI - Get Free Report) announced a quarterly dividend on Monday, May 12th, RTT News reports. Shareholders of record on Friday, May 23rd will be paid a dividend of 0.34 per share by the business services provider on Wednesday, June 11th. This represents a $1.36 annualized dividend and a yield of 2.78%. This is a 3.0% increase from HNI's previous quarterly dividend of $0.33.

HNI has raised its dividend payment by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. HNI has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE HNI traded up $1.33 during mid-day trading on Monday, reaching $48.89. 420,551 shares of the company traded hands, compared to its average volume of 306,215. HNI has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. 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 fifty day simple moving average of $43.18 and a 200-day simple moving average of $48.52. The firm has a market cap of $2.28 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. HNI had a net margin of 5.52% and a return on equity of 18.27%. The firm had revenue of $599.80 million for the quarter, compared to analysts' expectations of $580.47 million. During the same period in the previous year, the business earned $0.37 earnings per share. HNI's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that HNI will post 3.6 EPS for the current fiscal year.

Insider Transactions at HNI

In other HNI news, insider Brian Scott Smith sold 556 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of HNI from a "strong-buy" rating to a "buy" rating in a report on Friday, February 21st.

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.

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