HNI Corporation Plans Quarterly Dividend of $0.34 (NYSE:HNI)

HNI Corporation (NYSE:HNI) declared a quarterly dividend on Tuesday, February 17th. Investors of record on Monday, March 2nd will be given a dividend of 0.34 per share by the business services provider on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, March 2nd.

HNI has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. HNI has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Analysts expect HNI to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 33.9%.

HNI Price Performance

Shares of NYSE HNI opened at $50.26 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $45.73 and its 200-day moving average is $44.27. HNI has a 1-year low of $38.03 and a 1-year high of $53.29. The firm has a market cap of $2.30 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HNI. Wall Street Zen cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings raised shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 3rd. Finally, Benchmark reaffirmed a “buy” rating on shares of HNI in a research report on Friday, January 16th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.