AlphaQuest LLC Decreases Stake in Haverty Furniture Companies, Inc. $HVT

Key Points

• AlphaQuest LLC has significantly reduced its position in Haverty Furniture Companies, Inc., decreasing its holdings by 58.3% to approximately 0.07% of the company's stock, valued at $233,000.
• Other hedge funds, including Hsbc Holdings PLC and American Century Companies Inc., have increased their stakes in Haverty, reflecting mixed institutional investor sentiment.
• Haverty recently announced a quarterly dividend of $0.32 per share, resulting in an annualized yield of 5.7%, despite a high dividend payout ratio of 111.30%.

AlphaQuest LLC trimmed its position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 58.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,818 shares of the company's stock after selling 16,548 shares during the period. AlphaQuest LLC owned approximately 0.07% of Haverty Furniture Companies worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in shares of Haverty Furniture Companies by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 966,081 shares of the company's stock worth $19,051,000 after buying an additional 3,979 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Haverty Furniture Companies by 6.9% during the 1st quarter. American Century Companies Inc. now owns 432,216 shares of the company's stock worth $8,523,000 after buying an additional 27,898 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Haverty Furniture Companies by 35.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 301,683 shares of the company's stock worth $6,715,000 after buying an additional 78,553 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Haverty Furniture Companies by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 180,417 shares of the company's stock worth $3,558,000 after buying an additional 10,944 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Haverty Furniture Companies by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 160,198 shares of the company's stock worth $3,566,000 after buying an additional 4,153 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Haverty Furniture Companies Price Performance

NYSE HVT traded down $0.14 during trading hours on Wednesday, hitting $22.30. The company had a trading volume of 48,008 shares, compared to its average volume of 127,320. Haverty Furniture Companies, Inc. has a fifty-two week low of $17.01 and a fifty-two week high of $28.53. The company has a market capitalization of $362.82 million, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.65 and a beta of 1.24. The firm's 50 day moving average is $21.76 and its 200 day moving average is $20.70.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Haverty Furniture Companies had a return on equity of 6.39% and a net margin of 2.71%.The firm had revenue of $181.03 million during the quarter, compared to the consensus estimate of $177.11 million. On average, equities analysts anticipate that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, August 25th. Haverty Furniture Companies's dividend payout ratio is presently 111.30%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Haverty Furniture Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold".

Insiders Place Their Bets

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $22.84, for a total value of $342,600.00. Following the completion of the transaction, the director directly owned 29,523 shares of the company's stock, valued at $674,305.32. This represents a 33.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.63% of the stock is currently owned by insiders.

Haverty Furniture Companies Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.