Ethan Allen Interiors Inc. Declares Quarterly Dividend of $0.39 (NYSE:ETD)

Key Points

• Ethan Allen Interiors Inc. announced a quarterly dividend of $0.39 per share, which equates to an annualized dividend of $1.56 and a yield of 5.30%.
• The company's current dividend payout ratio is 73.9%, and it is projected to drop to 60.5% with expected earnings of $2.58 per share next year, indicating sustainability of the dividend.
• Recently, CEO M. Farooq Kathwari sold 10,000 shares of the company at an average price of $26.85, resulting in a 0.62% decrease in their ownership of the stock.

Ethan Allen Interiors Inc. (NYSE:ETD - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Wednesday, August 13th will be given a dividend of 0.39 per share on Thursday, August 28th. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, August 13th.

Ethan Allen Interiors has a dividend payout ratio of 73.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Ethan Allen Interiors to earn $2.58 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 60.5%.

Ethan Allen Interiors Trading Down 4.3%

NYSE ETD traded down $1.27 on Friday, reaching $28.50. 426,044 shares of the stock were exchanged, compared to its average volume of 223,625. The firm has a market capitalization of $724.76 million, a PE ratio of 14.18 and a beta of 1.19. Ethan Allen Interiors has a one year low of $24.55 and a one year high of $33.77. The company's 50-day simple moving average is $28.15 and its two-hundred day simple moving average is $27.99.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $160.36 million for the quarter, compared to analysts' expectations of $152.20 million. Ethan Allen Interiors had a net margin of 8.39% and a return on equity of 10.92%. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. Sell-side analysts forecast that Ethan Allen Interiors will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO M Farooq Kathwari sold 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $26.85, for a total value of $268,500.00. Following the transaction, the chief executive officer owned 1,611,905 shares in the company, valued at approximately $43,279,649.25. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 11,366 shares of company stock valued at $305,390. 10.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC purchased a new position in Ethan Allen Interiors during the 2nd quarter valued at about $6,202,000. Jacobs Levy Equity Management Inc. purchased a new position in Ethan Allen Interiors during the 1st quarter valued at about $3,254,000. JPMorgan Chase & Co. boosted its holdings in Ethan Allen Interiors by 177.1% during the 4th quarter. JPMorgan Chase & Co. now owns 147,525 shares of the company's stock valued at $4,147,000 after acquiring an additional 94,287 shares during the period. Jane Street Group LLC boosted its holdings in Ethan Allen Interiors by 31.2% during the 1st quarter. Jane Street Group LLC now owns 371,979 shares of the company's stock valued at $10,304,000 after acquiring an additional 88,383 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Ethan Allen Interiors during the 4th quarter valued at about $2,480,000. Hedge funds and other institutional investors own 83.80% of the company's stock.

Ethan Allen Interiors Company Profile

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.