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

HNI Co. (NYSE:HNI) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Monday, February 24th will be given 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 dividend yield of 2.71%.

HNI has increased its dividend payment by an average of 2.0% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. HNI has a payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Research 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 Down 1.3 %

Shares of HNI stock traded down $0.64 during trading on Wednesday, reaching $48.73. The stock had a trading volume of 14,258 shares, compared to its average volume of 278,500. The stock has a fifty day moving average price of $50.83 and a two-hundred day moving average price of $52.23. HNI has a 52 week low of $40.94 and a 52 week high of $58.42. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.13 and a beta of 0.90. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

Analyst Ratings Changes

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

Insider Transactions at HNI

In other news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the sale, the director now owns 37,880 shares of the company’s stock, valued at approximately $2,157,266. This represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.36% of the company’s stock.

HNI Company Profile

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.