First Citizens Bank & Trust Co. Takes Position in Ethan Allen Interiors Inc. $ETD

First Citizens Bank & Trust Co. bought a new position in Ethan Allen Interiors Inc. (NYSE:ETD) during the 2nd quarter, Holdings Channel reports. The fund bought 14,479 shares of the company’s stock, valued at approximately $403,000.

Several other large investors also recently modified their holdings of the business. Unison Advisors LLC grew its stake in shares of Ethan Allen Interiors by 1.5% in the second quarter. Unison Advisors LLC now owns 31,330 shares of the company’s stock worth $873,000 after purchasing an additional 458 shares during the last quarter. Burford Brothers Inc. bought a new stake in shares of Ethan Allen Interiors in the second quarter worth about $621,000. Allianz Asset Management GmbH grew its stake in shares of Ethan Allen Interiors by 5.1% in the second quarter. Allianz Asset Management GmbH now owns 7,783 shares of the company’s stock worth $217,000 after purchasing an additional 377 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Ethan Allen Interiors in the second quarter worth about $404,000. Finally, Inspire Investing LLC grew its stake in shares of Ethan Allen Interiors by 13.3% in the second quarter. Inspire Investing LLC now owns 13,990 shares of the company’s stock worth $390,000 after purchasing an additional 1,638 shares during the last quarter. 83.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO M Farooq Kathwari sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $28.01, for a total value of $420,150.00. Following the completion of the transaction, the chief executive officer directly owned 1,583,652 shares in the company, valued at $44,358,092.52. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 31,400 shares of company stock valued at $900,866. 9.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ETD. Weiss Ratings reissued a “hold (c+)” rating on shares of Ethan Allen Interiors in a research note on Wednesday, October 8th. Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 target price on shares of Ethan Allen Interiors in a research note on Thursday. Finally, Zacks Research raised Ethan Allen Interiors from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

Ethan Allen Interiors Stock Performance

ETD stock opened at $27.58 on Monday. The firm has a 50 day moving average price of $28.86 and a 200-day moving average price of $28.28. Ethan Allen Interiors Inc. has a 52-week low of $24.55 and a 52-week high of $32.61. The firm has a market capitalization of $701.94 million, a price-to-earnings ratio of 13.72 and a beta of 1.12.

Ethan Allen Interiors (NYSE:ETD) last released its earnings results on Wednesday, July 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. Ethan Allen Interiors had a net margin of 8.39% and a return on equity of 10.92%. The firm had revenue of $160.36 million during the quarter, compared to analyst estimates of $152.20 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, August 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, August 13th. Ethan Allen Interiors’s payout ratio is presently 77.61%.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.