HNI Co. (NYSE:HNI) Announces Quarterly Dividend of $0.33

HNI Co. (NYSE:HNI) declared 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 dividend on an annualized basis and a yield of 2.68%.

HNI has raised its dividend payment by an average of 2.0% per year over the last three years and has raised its dividend every year for the last 14 years. HNI has a 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 Stock Up 1.0 %

Shares of NYSE HNI traded up $0.50 on Tuesday, reaching $49.29. 232,254 shares of the company’s stock traded hands, compared to its average volume of 288,558. The business’s 50 day simple moving average is $50.98 and its two-hundred day simple moving average is $52.26. HNI has a 12 month low of $40.94 and a 12 month high of $58.42. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling at HNI

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total transaction of $113,900.00. Following the sale, the director now directly owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.