HNI Corp

HNI Corporation declared a quarterly dividend of $0.35 per share, in line with the previous payout. The dividend is payable on September 11 to shareholders of record on August 28, with the ex-dividend date also on August 28. Based on the current share price, the forward yield is 2.9%.

HNI has completed its long-running share repurchase program, according to an August 4 update, while a recent golden cross pattern has formed in the stock's trading averages. The stock has gained 20.79% over the past month and 63.41% over the past 90 days, closing at $48.86 per share. A widely followed narrative values HNI at $69 per share, implying the stock is 29.2% undervalued, driven by investments in ergonomic and flexible workspace products that could support premium pricing and margin expansion. Risks include potential weakness in office furniture demand from hybrid work and tariff-related supply chain disruptions.

HNI Corporation raised its full-year 2026 non-GAAP EPS growth outlook to 20% to 25% and increased its Steelcase synergy target to at least $120 million. Second-quarter non-GAAP EPS was $1.27, up 14% year-over-year, while total net sales increased 121% overall, driven by the Steelcase acquisition. In the Residential Building Products segment, revenue decreased 1.6% versus the prior year period, though segment operating margin expanded 470 basis points to 20.4%. The company expects third-quarter non-GAAP EPS to increase in the mid- to high-20% range and projects double-digit EPS growth again next year, driven primarily by synergies and network optimization rather than volume recovery.