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.
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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