HNI Corporation (HNI) To Go Ex-Dividend on May 29th

HNI Corporation (NYSE:HNI) declared a quarterly dividend on Monday, May 18th. Investors of record on Friday, May 29th will be given a dividend of 0.35 per share by the business services provider on Wednesday, June 10th. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, May 29th. This is a 2.9% increase from HNI’s previous quarterly dividend of $0.34.

HNI has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 15 years. HNI has a dividend payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect HNI to earn $4.94 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 27.5%.

HNI Stock Performance

HNI stock opened at $29.31 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.39 and a quick ratio of 0.86. The company has a 50 day moving average price of $35.36 and a 200 day moving average price of $41.02. HNI has a fifty-two week low of $29.23 and a fifty-two week high of $53.29. The stock has a market capitalization of $2.09 billion, a PE ratio of 71.48, a price-to-earnings-growth ratio of 0.38 and a beta of 1.01.

HNI (NYSE:HNI) last posted its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. HNI had a net margin of 0.04% and a return on equity of 13.17%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company posted $0.44 EPS. HNI’s revenue was up 124.7% on a year-over-year basis. Analysts forecast that HNI will post 4 EPS for the current year.

Hedge Funds Weigh In On HNI

Several institutional investors and hedge funds have recently made changes to their positions in HNI. Royal Bank of Canada grew its holdings in shares of HNI by 20.5% in the 1st quarter. Royal Bank of Canada now owns 8,642 shares of the business services provider’s stock valued at $383,000 after buying an additional 1,472 shares during the period. AQR Capital Management LLC grew its holdings in shares of HNI by 6.3% in the 1st quarter. AQR Capital Management LLC now owns 13,527 shares of the business services provider’s stock valued at $600,000 after buying an additional 802 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of HNI by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,239 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 1,290 shares during the period. Millennium Management LLC acquired a new position in shares of HNI in the 1st quarter valued at $10,666,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of HNI by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,290 shares of the business services provider’s stock valued at $6,311,000 after buying an additional 9,730 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

About HNI

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.