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

HNI Co. (NYSE:HNI - Get Free Report) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, February 24th.

HNI has raised its dividend by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 14 years. HNI has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

HNI traded up $0.43 on Friday, reaching $50.03. 237,779 shares of the company's stock were exchanged, compared to its average volume of 254,901. The stock has a market cap of $2.39 billion, a PE ratio of 19.39, a P/E/G ratio of 1.13 and a beta of 0.90. HNI has a twelve month low of $40.94 and a twelve month high of $58.42. The stock's fifty day moving average price is $50.42 and its 200-day moving average price is $52.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.68.

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now directly owns 37,880 shares of the company's stock, valued at $2,157,266. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.