Gilman Hill Asset Management LLC Purchases New Shares in Ethan Allen Interiors Inc. $ETD

Key Points

• Gilman Hill Asset Management LLC acquired 222,691 shares of Ethan Allen Interiors Inc. for approximately $6.20 million, representing an ownership of 0.88% of the company.
• CEO M Farooq Kathwari sold 15,000 shares at an average price of $29.37, reducing his total holdings to approximately 1.6 million shares valued at nearly $47 million.
• Ethan Allen Interiors reported earnings of $0.49 per share, surpassing estimates, with a quarterly revenue of $160.36 million, although revenue decreased by 4.9% year-over-year.

Gilman Hill Asset Management LLC acquired a new stake in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 222,691 shares of the company's stock, valued at approximately $6,202,000. Gilman Hill Asset Management LLC owned 0.88% of Ethan Allen Interiors as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG raised its stake in shares of Ethan Allen Interiors by 28.0% in the fourth quarter. Deutsche Bank AG now owns 15,938 shares of the company's stock valued at $448,000 after buying an additional 3,491 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Ethan Allen Interiors by 5.8% in the 4th quarter. Gotham Asset Management LLC now owns 10,237 shares of the company's stock worth $288,000 after purchasing an additional 561 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ethan Allen Interiors by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,006 shares of the company's stock valued at $366,000 after acquiring an additional 448 shares during the period. State of Wyoming purchased a new stake in Ethan Allen Interiors in the 4th quarter worth approximately $52,000. Finally, Two Sigma Advisers LP lifted its holdings in Ethan Allen Interiors by 7.4% in the 4th quarter. Two Sigma Advisers LP now owns 122,900 shares of the company's stock worth $3,455,000 after buying an additional 8,500 shares during the period. Hedge funds and other institutional investors own 83.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reissued a "market perform" rating and issued a $30.00 target price on shares of Ethan Allen Interiors in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Ethan Allen Interiors presently has a consensus rating of "Hold" and a consensus price target of $30.00.

Ethan Allen Interiors Stock Down 1.8%

NYSE ETD traded down $0.54 during trading hours on Friday, hitting $29.27. 473,587 shares of the company were exchanged, compared to its average volume of 281,489. The stock has a 50-day moving average price of $29.52 and a 200 day moving average price of $28.10. Ethan Allen Interiors Inc. has a 52 week low of $24.55 and a 52 week high of $32.61. The stock has a market cap of $744.34 million, a PE ratio of 14.56 and a beta of 1.13.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.49 earnings per share (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 business had revenue of $160.36 million during the quarter, compared to analyst estimates of $152.20 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company's revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current year.

Ethan Allen Interiors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, August 13th. Ethan Allen Interiors's payout ratio is 77.61%.

Insider Transactions at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 15,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $29.37, for a total value of $440,550.00. Following the transaction, the chief executive officer owned 1,598,652 shares of the company's stock, valued at $46,952,409.24. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.48% of the stock is currently owned by company insiders.

Ethan Allen Interiors Company Profile

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.