HNI Corp Announces Quarterly Dividend of $0.29 (HNI)

HNI Corp (NYSE:HNI) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Shareholders of record on Monday, February 26th will be given a dividend of 0.285 per share by the business services provider on Monday, March 5th. This represents a $1.14 annualized dividend and a yield of 3.00%.

HNI has increased its dividend payment by an average of 4.5% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. HNI has a payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HNI to earn $2.97 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 38.4%.

HNI (NYSE:HNI) traded up $0.73 during mid-day trading on Wednesday, hitting $37.99. 60,039 shares of the company’s stock were exchanged, compared to its average volume of 208,342. HNI has a 12-month low of $31.16 and a 12-month high of $48.32. The stock has a market capitalization of $1,625.48, a PE ratio of 18.35 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.68.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. HNI had a net margin of 5.81% and a return on equity of 26.89%. The firm had revenue of $584.30 million for the quarter, compared to analysts’ expectations of $567.83 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. research analysts expect that HNI will post 2.49 EPS for the current fiscal year.

HNI has been the topic of a number of analyst reports. Zacks Investment Research cut shares of HNI from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Rowe cut shares of HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Raymond James Financial restated a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Finally, Seaport Global Securities restated a “neutral” rating on shares of HNI in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.

In related news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stanley A. Askren sold 3,021 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $35.07, for a total transaction of $105,946.47. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock worth $1,027,081 in the last 90 days. Corporate insiders own 5.16% of the company’s stock.

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About HNI

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 (NYSE:HNI)

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