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

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. Stockholders 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 dividend yield of 5.5%. The ex-dividend date of this dividend 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 Stock Down 4.3%

Shares of NYSE ETD traded down $1.27 during trading on Friday, reaching $28.50. The company had a trading volume of 426,044 shares, compared to its average volume of 223,625. Ethan Allen Interiors has a 12-month low of $24.55 and a 12-month high of $33.77. The stock has a market cap of $724.76 million, a PE ratio of 14.18 and a beta of 1.19. The business's 50-day moving average is $28.15 and its 200 day 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 EPS for the quarter, beating the consensus estimate of $0.45 by $0.04. Ethan Allen Interiors had a return on equity of 10.92% and a net margin of 8.39%. The company had revenue of $160.36 million for the quarter, compared to analysts' expectations of $152.20 million. During the same period last year, the firm posted $0.70 earnings per share. Ethan Allen Interiors's revenue was down 4.9% compared to the same quarter last year. On average, analysts anticipate that Ethan Allen Interiors will post 2.32 earnings per share for the current year.

Insider Transactions at Ethan Allen Interiors

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

Hedge Funds Weigh In On Ethan Allen Interiors

Several institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of Ethan Allen Interiors by 12,857.1% in the 1st quarter. IFP Advisors Inc now owns 907 shares of the company's stock worth $25,000 after purchasing an additional 900 shares during the period. State of Wyoming bought a new position in shares of Ethan Allen Interiors in the 4th quarter worth $52,000. Quarry LP grew its stake in Ethan Allen Interiors by 73.3% during the 4th quarter. Quarry LP now owns 2,604 shares of the company's stock worth $73,000 after buying an additional 1,101 shares during the last quarter. AlphaQuest LLC grew its stake in Ethan Allen Interiors by 344.8% during the 1st quarter. AlphaQuest LLC now owns 3,398 shares of the company's stock worth $94,000 after buying an additional 2,634 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Ethan Allen Interiors in the fourth quarter valued at about $112,000. Hedge funds and other institutional investors own 83.80% of the company's stock.

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.