HNI Corporation (NYSE:HNI) Declares Quarterly Dividend of $0.35

HNI Corporation (NYSE:HNI) announced a quarterly dividend on Monday, May 18th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.35 per share by the business services provider on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, May 29th. This is a 2.9% increase from HNI’s previous quarterly dividend of $0.34.

HNI has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. HNI has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $4.94 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 27.5%.

HNI Price Performance

Shares of HNI opened at $30.25 on Tuesday. The stock has a market cap of $2.16 billion, a PE ratio of 73.78, a price-to-earnings-growth ratio of 0.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 1.39. HNI has a fifty-two week low of $29.89 and a fifty-two week high of $53.29. The firm’s 50-day simple moving average is $35.60 and its two-hundred day simple moving average is $41.11.

HNI (NYSE:HNI) last announced its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The business’s revenue was up 124.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts anticipate that HNI will post 4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HNI

A number of institutional investors have recently made changes to their positions in the company. Grace & White Inc. NY grew its holdings in shares of HNI by 22.0% during the first quarter. Grace & White Inc. NY now owns 38,855 shares of the business services provider’s stock valued at $1,297,000 after buying an additional 7,000 shares during the last quarter. Entropy Technologies LP grew its holdings in shares of HNI by 10.5% during the fourth quarter. Entropy Technologies LP now owns 15,935 shares of the business services provider’s stock valued at $670,000 after buying an additional 1,508 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of HNI by 31.7% during the fourth quarter. New York State Common Retirement Fund now owns 21,301 shares of the business services provider’s stock valued at $895,000 after buying an additional 5,125 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of HNI by 23.0% during the fourth quarter. Cooke & Bieler LP now owns 754,493 shares of the business services provider’s stock valued at $31,719,000 after buying an additional 140,971 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of HNI by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 16,716 shares of the business services provider’s stock valued at $703,000 after buying an additional 5,790 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About HNI

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.