Haverty Furniture Companies, Inc. $HVT Holdings Raised by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC increased its stake in Haverty Furniture Companies by 61.5%, owning approximately 9.66% of the company worth $31.76 million after purchasing an additional 594,476 shares.
• The company reported $0.16 earnings per share (EPS) for its latest quarter, exceeding the consensus estimate of $0.15, and had revenue of $181.03 million, which surpassed predictions.
• Haverty declared a quarterly dividend of $0.32, representing a 6.4% yield, but has a dividend payout ratio of 111.30%, indicating high distribution relative to earnings.

Pzena Investment Management LLC boosted its stake in Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 61.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,560,557 shares of the company's stock after buying an additional 594,476 shares during the quarter. Pzena Investment Management LLC owned approximately 9.66% of Haverty Furniture Companies worth $31,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Haverty Furniture Companies by 1,929.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock worth $30,000 after buying an additional 1,447 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Haverty Furniture Companies by 509.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock worth $74,000 after buying an additional 3,123 shares in the last quarter. GAMMA Investing LLC lifted its position in Haverty Furniture Companies by 4,637.0% in the 1st quarter. GAMMA Investing LLC now owns 4,358 shares of the company's stock worth $860,000 after buying an additional 4,266 shares in the last quarter. CWM LLC lifted its position in Haverty Furniture Companies by 163.0% in the 1st quarter. CWM LLC now owns 4,645 shares of the company's stock worth $92,000 after buying an additional 2,879 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company's stock worth $175,000 after buying an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company's stock.

Haverty Furniture Companies Price Performance

NYSE HVT opened at $20.00 on Monday. The firm has a market capitalization of $325.40 million, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.46 and a beta of 1.24. The company's fifty day moving average is $22.31 and its two-hundred day moving average is $20.83. Haverty Furniture Companies, Inc. has a 52-week low of $17.01 and a 52-week high of $26.34.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $181.03 million for the quarter, compared to analyst estimates of $177.11 million. Haverty Furniture Companies had a net margin of 2.71% and a return on equity of 6.39%. As a group, sell-side analysts expect that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.4%. The ex-dividend date was Monday, August 25th. Haverty Furniture Companies's dividend payout ratio (DPR) is currently 111.30%.

Insider Transactions at Haverty Furniture Companies

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 10,003 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $23.10, for a total value of $231,069.30. Following the sale, the director directly owned 4,523 shares in the company, valued at $104,481.30. This trade represents a 68.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 40,000 shares of company stock valued at $918,900. Company insiders own 8.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Haverty Furniture Companies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Haverty Furniture Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Haverty Furniture Companies Company 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.

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