HNI Corporation (NYSE:HNI) Announces Quarterly Dividend of $0.34

HNI Corporation (NYSE:HNI) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Monday, March 2nd will be given a dividend of 0.34 per share by the business services provider on Wednesday, March 11th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, March 2nd.

HNI has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. HNI has a dividend payout ratio of 33.9% 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 $1.36 annual dividend with an expected future payout ratio of 33.9%.

HNI Stock Up 0.9%

NYSE:HNI traded up $0.48 during mid-day trading on Wednesday, hitting $50.50. The company had a trading volume of 14,568 shares, compared to its average volume of 497,241. The business has a fifty day simple moving average of $45.73 and a 200-day simple moving average of $44.27. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.61 and a beta of 0.94. HNI has a 1 year low of $38.03 and a 1 year high of $53.29. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Benchmark reaffirmed a “buy” rating on shares of HNI in a report on Friday, January 16th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.