BlackRock Inc. Invests $54.16 Million in Ethan Allen Interiors Inc. $ETD

Key Points

• BlackRock acquired 2.42 million Ethan Allen Interiors shares worth approximately $54.16 million, giving it a 9.53% stake. Institutional investors collectively own 83.8% of the company.
• Analysts maintain a bearish outlook, with a consensus rating of “Sell” and an average price target of $22.00. Recent quarterly revenue fell 8.5% year over year, although earnings per share slightly exceeded estimates.
• Ethan Allen declared a $3.00-per-share special dividend, payable September 17 to shareholders of record September 3.

BlackRock Inc. bought a new position in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,424,472 shares of the company's stock, valued at approximately $54,163,000. BlackRock Inc. owned approximately 9.53% of Ethan Allen Interiors at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Ethan Allen Interiors by 365.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,054 shares of the company's stock worth $85,000 after buying an additional 2,398 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Ethan Allen Interiors by 132.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,899 shares of the company's stock worth $87,000 after acquiring an additional 2,219 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Ethan Allen Interiors in the first quarter worth $88,000. Dunhill Financial LLC purchased a new stake in shares of Ethan Allen Interiors during the second quarter worth $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ethan Allen Interiors by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,677 shares of the company's stock worth $130,000 after acquiring an additional 1,565 shares during the period. 83.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ETD. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ethan Allen Interiors in a research report on Friday, July 31st. Zacks Research downgraded Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. Finally, Telsey Advisory Group cut their target price on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, July 30th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Ethan Allen Interiors presently has a consensus rating of "Sell" and an average price target of $22.00.

Ethan Allen Interiors Price Performance

Shares of NYSE ETD opened at $23.65 on Tuesday. The company has a market capitalization of $601.89 million, a price-to-earnings ratio of 15.16 and a beta of 1.02. The business has a 50-day moving average of $22.78 and a two-hundred day moving average of $22.09. Ethan Allen Interiors Inc. has a 1 year low of $18.28 and a 1 year high of $30.80.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $146.75 million during the quarter, compared to analysts' expectations of $148.70 million. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%.The business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. As a group, equities research analysts expect that Ethan Allen Interiors Inc. will post 1.3 earnings per share for the current year.

Ethan Allen Interiors Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, September 3rd. Ethan Allen Interiors's dividend payout ratio (DPR) is currently 100.00%.

Ethan Allen Interiors Profile

Ethan Allen Interiors Inc NYSE: ETD is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.

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