Empowered Funds LLC Takes Position in Ethan Allen Interiors Inc. $ETD

Key Points

• Empowered Funds LLC acquired 94,027 shares of Ethan Allen Interiors, worth approximately $2.1 million, giving it a 0.37% stake. Institutional investors and hedge funds collectively own 83.8% of the company.
• Ethan Allen reported quarterly EPS of $0.36, exceeding estimates of $0.34, but revenue fell 8.5% year over year to $146.75 million. The stock opened at $21.80, down 11.8%, while analysts maintain an average “Reduce” rating and a $22 price target.
• The company declared a $3.00-per-share special dividend, payable September 17 to shareholders of record as of September 3. CEO M. Kathwari also sold 1,063 shares under a pre-arranged Rule 10b5-1 trading plan.

Empowered Funds LLC acquired a new position in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 94,027 shares of the company's stock, valued at approximately $2,101,000. Empowered Funds LLC owned 0.37% of Ethan Allen Interiors at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Ethan Allen Interiors by 46.8% in the first quarter. Bank of America Corp DE now owns 151,994 shares of the company's stock worth $3,383,000 after purchasing an additional 48,427 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Ethan Allen Interiors during the second quarter valued at about $2,063,000. Landscape Capital Management L.L.C. bought a new stake in shares of Ethan Allen Interiors during the second quarter valued at about $2,762,000. BlackRock Inc. acquired a new stake in Ethan Allen Interiors in the second quarter worth about $54,163,000. Finally, Sei Investments Co. acquired a new stake in Ethan Allen Interiors in the first quarter worth about $938,000. 83.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Kathwari sold 1,063 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total transaction of $26,617.52. Following the completion of the sale, the chief executive officer directly owned 22,077 shares of the company's stock, valued at approximately $552,808.08. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.92% of the company's stock.

Ethan Allen Interiors Stock Down 11.8%

Shares of NYSE ETD opened at $21.80 on Friday. The stock's fifty day simple moving average is $22.86 and its 200 day simple moving average is $22.09. The stock has a market capitalization of $554.81 million, a price-to-earnings ratio of 13.97 and a beta of 1.03. Ethan Allen Interiors Inc. has a 52-week low of $18.28 and a 52-week high of $30.80.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%.The business had revenue of $146.75 million during the quarter, compared to the consensus estimate of $148.70 million. During the same period in the prior year, the business posted $0.49 earnings per share. Ethan Allen Interiors's revenue was down 8.5% compared to the same quarter last year. As a group, analysts anticipate 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 disclosed a special dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, September 3rd. Ethan Allen Interiors's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETD. Weiss Ratings raised shares of Ethan Allen Interiors from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday. Zacks Research lowered shares of Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, Telsey Advisory Group decreased their price objective on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ethan Allen Interiors currently has an average rating of "Reduce" and an average target price of $22.00.

Ethan Allen Interiors Company 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.

Want to see what other hedge funds are holding ETD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ethan Allen Interiors Inc. (NYSE:ETD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source