Haverty Furniture Companies (NYSE:HVT) Chairman Sells $591,106.56 in Stock

Haverty Furniture Companies, Inc. (NYSE:HVT) Chairman Clarence Smith sold 20,991 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $28.16, for a total transaction of $591,106.56. Following the completion of the transaction, the chairman owned 71,705 shares in the company, valued at approximately $2,019,212.80. This trade represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Haverty Furniture Companies Trading Down 0.3%

HVT opened at $27.39 on Friday. Haverty Furniture Companies, Inc. has a 12-month low of $19.89 and a 12-month high of $29.83. The firm has a 50 day moving average of $26.00 and a two-hundred day moving average of $24.02. The firm has a market capitalization of $427.12 million, a PE ratio of 20.14, a P/E/G ratio of 1.41 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $189.19 million. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. As a group, analysts predict that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. Haverty Furniture Companies’s payout ratio is currently 97.06%.

Hedge Funds Weigh In On Haverty Furniture Companies

Several institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. grew its holdings in Haverty Furniture Companies by 65.5% in the first 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 during the period. Pzena Investment Management LLC acquired a new position in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $39,915,000. Hodges Capital Management Inc. purchased a new position in shares of Haverty Furniture Companies during the 4th quarter valued at approximately $4,948,000. Bank of New York Mellon Corp lifted its position in shares of Haverty Furniture Companies by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 154,971 shares of the company’s stock valued at $3,282,000 after buying an additional 8,586 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Haverty Furniture Companies in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on HVT. Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen raised Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Haverty Furniture Companies currently 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.