HNI Corp (NYSE:HNI) declared a quarterly dividend on Wednesday, November 7th, NASDAQ reports. Stockholders of record on Monday, November 19th will be paid a dividend of 0.295 per share by the business services provider on Monday, December 3rd. This represents a $1.18 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, November 16th.
HNI has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. HNI has a payout ratio of 48.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HNI to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 40.1%.
Shares of HNI stock opened at $38.13 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. HNI has a 52-week low of $32.45 and a 52-week high of $45.40. The company has a market capitalization of $1.71 billion, a PE ratio of 19.36 and a beta of 1.44.
HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. HNI had a return on equity of 16.11% and a net margin of 4.23%. The company had revenue of $611.10 million during the quarter, compared to analyst estimates of $618.27 million. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that HNI will post 2.4 EPS for the current year.
In other HNI news, Director Stanley A. Askren sold 25,212 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $42.70, for a total transaction of $1,076,552.40. Following the completion of the transaction, the director now owns 257,336 shares of the company’s stock, valued at $10,988,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley A. Askren sold 15,000 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $44.03, for a total value of $660,450.00. Following the transaction, the director now directly owns 247,124 shares of the company’s stock, valued at approximately $10,880,869.72. The disclosure for this sale can be found here. Insiders sold 65,424 shares of company stock valued at $2,810,025 in the last ninety days. 5.16% of the stock is currently owned by insiders.
A number of brokerages recently commented on HNI. TheStreet raised HNI from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. Zacks Investment Research lowered HNI from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, ValuEngine raised HNI from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th.
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HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.
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