HNI Co. (NYSE:HNI) to Issue $0.33 Quarterly Dividend

HNI Co. (NYSE:HNI) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.33 per share by the business services provider on Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.68%.

HNI has increased its dividend by an average of 2.0% annually over the last three years and has raised its dividend every year for the last 14 years. HNI has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect HNI to earn $3.60 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 36.7%.

HNI Trading Up 1.0 %

HNI stock traded up $0.50 during midday trading on Tuesday, hitting $49.29. The company had a trading volume of 232,254 shares, compared to its average volume of 288,558. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.13 and a beta of 0.90. HNI has a 52 week low of $40.94 and a 52 week high of $58.42. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $50.98 and its 200 day moving average price is $52.26.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st.

Insiders Place Their Bets

In related news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now owns 37,880 shares in the company, valued at $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.36% of the company’s stock.

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.