Bank of New York Mellon Corp Invests $4.12 Million in Haverty Furniture Companies, Inc. $HVT

Bank of New York Mellon Corp purchased a new position in Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 161,477 shares of the company's stock, valued at approximately $4,123,000. Bank of New York Mellon Corp owned about 1.00% of Haverty Furniture Companies at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HVT. Sei Investments Co. lifted its position in shares of Haverty Furniture Companies by 65.5% during the first quarter. Sei Investments Co. now owns 164,994 shares of the company's stock worth $3,495,000 after purchasing an additional 65,292 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Haverty Furniture Companies in the fourth quarter valued at about $4,948,000. State of Wyoming increased its holdings in Haverty Furniture Companies by 37.5% in the fourth quarter. State of Wyoming now owns 11,766 shares of the company's stock valued at $275,000 after buying an additional 3,211 shares during the last quarter. Bank of America Corp DE increased its holdings in Haverty Furniture Companies by 4.8% in the first quarter. Bank of America Corp DE now owns 26,230 shares of the company's stock valued at $556,000 after buying an additional 1,195 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Haverty Furniture Companies during the second quarter valued at approximately $235,000. 80.57% of the stock is owned by institutional investors and hedge funds.

Haverty Furniture Companies Trading Up 3.3%

NYSE:HVT opened at $28.52 on Friday. The firm has a market capitalization of $444.63 million, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22. The stock has a 50 day moving average of $26.61 and a 200-day moving average of $24.08. Haverty Furniture Companies, Inc. has a 52 week low of $19.89 and a 52 week high of $29.83.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping 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 return on equity of 7.15% and a net margin of 2.93%. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. Haverty Furniture Companies's payout ratio is 97.06%.

Wall Street Analysts Forecast Growth

HVT has been the subject of several research reports. Weiss Ratings upgraded Haverty Furniture Companies from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Zacks Research raised Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised Haverty Furniture Companies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Insider Activity

In other news, Chairman Clarence Smith sold 20,991 shares of the company's stock in a transaction dated Monday, August 17th. The shares were 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 represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.40% of the company's stock.

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.

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