Haverty Furniture Companies (NYSE:HVT) Chairman Clarence Smith Sells 20,991 Shares of Stock

Haverty Furniture Companies, Inc. (NYSE:HVT) Chairman Clarence Smith sold 20,991 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $28.16, for a total value of $591,106.56. Following the sale, the chairman owned 71,705 shares of the company’s stock, valued at $2,019,212.80. This represents a 22.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Haverty Furniture Companies Trading Down 0.3%

Shares of Haverty Furniture Companies stock traded down $0.10 during trading hours on Wednesday, reaching $28.24. The stock had a trading volume of 87,208 shares, compared to its average volume of 105,842. The firm has a market capitalization of $440.44 million, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.48 and a beta of 1.20. Haverty Furniture Companies, Inc. has a 1 year low of $19.89 and a 1 year high of $29.83. The firm has a 50 day simple moving average of $25.77 and a two-hundred day simple moving average of $23.96.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping 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 business had revenue of $194.94 million during the quarter, compared to analysts’ expectations of $189.19 million. Sell-side analysts forecast that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 25th. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 97.06%.

Institutional Investors Weigh In On Haverty Furniture Companies

A number of large investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Haverty Furniture Companies by 65.5% during the first quarter. Sei Investments Co. now owns 164,994 shares of the company’s stock worth $3,495,000 after acquiring an additional 65,292 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Haverty Furniture Companies during the 2nd quarter valued at approximately $39,915,000. Hodges Capital Management Inc. acquired a new stake in Haverty Furniture Companies during the 4th quarter valued at approximately $4,948,000. Empowered Funds LLC grew its stake in Haverty Furniture Companies by 10.7% during the 1st quarter. Empowered Funds LLC now owns 117,502 shares of the company’s stock valued at $2,489,000 after purchasing an additional 11,318 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Haverty Furniture Companies by 13.5% during the 1st quarter. Lazard Asset Management LLC now owns 81,536 shares of the company’s stock worth $1,727,000 after purchasing an additional 9,697 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Haverty Furniture Companies in a research report on Tuesday, August 4th. Zacks Research upgraded Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Haverty Furniture Companies has an average rating of “Hold”.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.