Donald Smith & CO. Inc. Takes $16.98 Million Position in Hooker Furnishings Corp. $HOFT

Donald Smith & CO. Inc. purchased a new position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 952,422 shares of the company’s stock, valued at approximately $16,982,000. Donald Smith & CO. Inc. owned 8.87% of Hooker Furnishings as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HOFT. State of Wyoming acquired a new stake in shares of Hooker Furnishings in the second quarter valued at approximately $73,000. Osaic Holdings Inc. increased its holdings in shares of Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after acquiring an additional 9,400 shares during the last quarter. Cerity Partners LLC bought a new stake in Hooker Furnishings in the 4th quarter valued at $117,000. Strs Ohio acquired a new stake in Hooker Furnishings during the 1st quarter valued at $124,000. Finally, LPL Financial LLC lifted its holdings in Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on HOFT. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Zacks Research downgraded shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 1.0%

NASDAQ HOFT opened at $14.47 on Friday. The company has a market capitalization of $155.44 million, a P/E ratio of -6.73, a P/E/G ratio of 1.33 and a beta of 1.13. Hooker Furnishings Corp. has a 12-month low of $8.61 and a 12-month high of $18.09. The firm has a 50-day moving average price of $15.20 and a two-hundred day moving average price of $13.96.

Hooker Furnishings (NASDAQ:HOFT) last announced its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The company had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $66.31 million. Equities analysts expect that Hooker Furnishings Corp. will post 0.77 EPS for the current year.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 19th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.2%. Hooker Furnishings’s dividend payout ratio is currently -21.40%.

Hooker Furnishings Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.