17,053 Haverty Furniture Companies, Inc. $HVT Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,791 shares of the company’s stock after buying an additional 17,053 shares during the quarter. Tectonic Advisors LLC owned approximately 0.51% of Haverty Furniture Companies worth $2,208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC acquired a new position in shares of Haverty Furniture Companies in the second quarter worth about $39,915,000. BlackRock Inc. acquired a new stake in shares of Haverty Furniture Companies during the 2nd quarter valued at about $39,128,000. Renaissance Technologies LLC grew its position in shares of Haverty Furniture Companies by 2.8% during the 1st quarter. Renaissance Technologies LLC now owns 719,830 shares of the company’s stock valued at $15,246,000 after acquiring an additional 19,624 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Haverty Furniture Companies during the 2nd quarter valued at about $4,123,000. Finally, Sei Investments Co. increased its stake in shares of Haverty Furniture Companies by 65.5% in the 1st quarter. Sei Investments Co. now owns 164,994 shares of the company’s stock valued at $3,495,000 after purchasing an additional 65,292 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Haverty Furniture Companies Stock Performance

Shares of HVT traded down $0.35 during trading hours on Friday, hitting $29.53. 81,865 shares of the stock were exchanged, compared to its average volume of 100,206. Haverty Furniture Companies, Inc. has a 12-month low of $20.06 and a 12-month high of $29.88. The company has a market cap of $460.40 million, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. The stock’s 50-day moving average price is $27.80 and its two-hundred day moving average price is $25.34.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%. The company had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. On average, research analysts expect that Haverty Furniture Companies, Inc. will post 1.59 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 25th. Haverty Furniture Companies’s dividend payout ratio is 97.06%.

Insider Activity at Haverty Furniture Companies

In other news, Chairman Clarence Smith sold 20,991 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $28.16, for a total value of $591,106.56. Following the transaction, the chairman directly owned 71,705 shares of the company’s stock, valued at approximately $2,019,212.80. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HVT has been the subject of a number of analyst reports. Wall Street Zen raised Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold”.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc is a specialty home-furnishings retailer that sells furniture and related products for living rooms, bedrooms, dining rooms, home offices and other areas of the home. Its merchandise includes sofas, chairs, tables, beds, mattresses, case goods, rugs, lighting and home accessories, with products offered through its retail stores and website.

Founded in Atlanta in 1885 by James Joseph Haverty, the company has grown from a regional furniture business into a multi-state retailer.