HNI Corp. (HNI) Announces $0.28 Quarterly Dividend
HNI Corp. (NYSE:HNI) announced a quarterly dividend on Thursday, November 10th. Stockholders of record on Monday, November 21st will be paid a dividend of 0.275 per share on Thursday, December 1st. This represents a $1.10 annualized dividend and a dividend yield of 2.44%.
Shares of HNI Corp. (NYSE:HNI) opened at 45.09 on Friday. HNI Corp. has a one year low of $29.84 and a one year high of $56.96. The stock has a 50 day moving average of $40.09 and a 200 day moving average of $46.51. The stock has a market cap of $2.01 billion, a P/E ratio of 19.19 and a beta of 1.29.
HNI Corp. (NYSE:HNI) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $584.60 million for the quarter, compared to analysts’ expectations of $583.70 million. HNI Corp. had a net margin of 4.82% and a return on equity of 24.76%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. Equities analysts expect that HNI Corp. will post $2.65 EPS for the current fiscal year.
HNI has been the topic of several recent analyst reports. Zacks Investment Research cut shares of HNI Corp. from a “buy” rating to a “sell” rating in a report on Wednesday, September 21st. Seaport Global Securities initiated coverage on shares of HNI Corp. in a report on Friday, November 4th. They issued a “neutral” rating on the stock. Finally, Raymond James Financial Inc. cut shares of HNI Corp. from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 20th.
In other HNI Corp. news, insider Donald T. Mead sold 26,343 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $54.60, for a total transaction of $1,438,327.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jerald K. Dittmer sold 42,957 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $53.27, for a total transaction of $2,288,319.39. Following the sale, the insider now directly owns 64,376 shares in the company, valued at $3,429,309.52. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. KCG Holdings Inc. acquired a new stake in shares of HNI Corp. during the second quarter worth $248,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of HNI Corp. during the second quarter worth $299,000. Paloma Partners Management Co acquired a new stake in shares of HNI Corp. during the second quarter worth $305,000. Stevens Capital Management LP acquired a new stake in shares of HNI Corp. during the second quarter worth $343,000. Finally, Profund Advisors LLC boosted its stake in shares of HNI Corp. by 11.9% in the second quarter. Profund Advisors LLC now owns 9,837 shares of the company’s stock worth $457,000 after buying an additional 1,046 shares during the period. 68.18% of the stock is currently owned by institutional investors.
HNI Corp. Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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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