HNI Corp (NYSE:HNI) declared a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, February 23rd.
HNI has raised 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $3.10 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 36.8%.
HNI (HNI) opened at $39.39 on Friday. HNI has a fifty-two week low of $31.16 and a fifty-two week high of $48.32. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1,710.59, a PE ratio of 19.40 and a beta of 1.44.
HNI (NYSE:HNI) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $584.30 million during the quarter, compared to analysts’ expectations of $567.83 million. HNI had a return on equity of 17.64% and a net margin of 4.13%. HNI’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. research analysts anticipate that HNI will post 2.5 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on HNI shares. Zacks Investment Research upgraded HNI from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. Seaport Global Securities restated a “neutral” rating on shares of HNI in a report on Monday, February 12th. Raymond James Financial restated a “market perform” rating on shares of HNI in a report on Tuesday, October 24th. Finally, Rowe cut HNI from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.00.
In other HNI news, CEO Stanley A. Askren sold 3,032 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $34.62, for a total value of $104,967.84. Following the completion of the sale, the chief executive officer now owns 213,020 shares in the company, valued at approximately $7,374,752.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stanley A. Askren sold 3,021 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $35.07, for a total value of $105,946.47. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $1,027,081 over the last 90 days. 5.16% of the stock is currently owned by company insiders.
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HNI Company Profile
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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