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 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.
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.
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