HNI Corporation (NYSE:HNI) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Friday, August 18th will be given a dividend of 0.285 per share by the business services provider on Friday, September 1st. This represents a $1.14 annualized dividend and a dividend yield of 3.12%.

HNI Corporation has raised its dividend by an average of 4.3% annually over the last three years and has increased its dividend every year for the last 5 years. HNI Corporation has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HNI Corporation to earn $2.98 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 38.3%.

HNI Corporation (NYSE:HNI) traded up 1.05% during trading on Tuesday, hitting $36.59. The stock had a trading volume of 196,602 shares. The company has a 50-day moving average of $38.83 and a 200 day moving average of $44.15. HNI Corporation has a 52 week low of $35.55 and a 52 week high of $56.96. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 26.29 and a beta of 1.41.

HNI Corporation (NYSE:HNI) last issued its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.01. The company had revenue of $514.50 million during the quarter, compared to analyst estimates of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. On average, equities research analysts anticipate that HNI Corporation will post $2.45 EPS for the current year.

In related news, Chairman Stanley A. Askren sold 11,264 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $46.01, for a total transaction of $518,256.64. Following the completion of the sale, the chairman now owns 204,996 shares of the company’s stock, valued at $9,431,865.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.16% of the company’s stock.

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Several equities research analysts recently commented on HNI shares. TheStreet cut HNI Corporation from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Zacks Investment Research cut HNI Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Finally, BidaskClub cut HNI Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. HNI Corporation presently has an average rating of “Hold” and a consensus target price of $47.00.

About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Dividend History for HNI Corporation (NYSE:HNI)

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