Hodges Capital Management Inc. Makes New $4.95 Million Investment in Haverty Furniture Companies, Inc. $HVT

Hodges Capital Management Inc. bought a new position in Haverty Furniture Companies, Inc. (NYSE:HVT) in the fourth quarter, HoldingsChannel.com reports. The fund bought 211,800 shares of the company’s stock, valued at approximately $4,948,000.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $31,000. State of Alaska Department of Revenue acquired a new stake in shares of Haverty Furniture Companies during the 4th quarter worth approximately $45,000. State of Wyoming acquired a new stake in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $58,000. CWM LLC grew its position in shares of Haverty Furniture Companies by 74.8% during the 4th quarter. CWM LLC now owns 5,940 shares of the company’s stock worth $139,000 after buying an additional 2,541 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Haverty Furniture Companies by 7.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after buying an additional 651 shares during the period. 80.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Zacks Research cut shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Performance

Shares of NYSE HVT opened at $23.45 on Thursday. The stock has a market cap of $377.37 million, a P/E ratio of 19.55, a P/E/G ratio of 1.20 and a beta of 1.20. The firm has a 50 day moving average price of $22.20 and a 200 day moving average price of $23.59. Haverty Furniture Companies, Inc. has a 52-week low of $19.32 and a 52-week high of $27.67.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $189.05 million during the quarter, compared to analysts’ expectations of $191.99 million. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. Analysts predict that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 1st will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Haverty Furniture Companies’s payout ratio is currently 110.00%.

Haverty Furniture Companies 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.