Haverty Furniture Companies, Inc. $HVT Position Increased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC has increased its stake in Haverty Furniture Companies by 64.7%, owning 38,692 shares worth approximately $762,000 as of its latest SEC filing.
• The company recently announced a quarterly dividend of $0.32, equating to an annualized rate of $1.28 and a dividend yield of 5.7%.
• Haverty Furniture Companies reported earnings of $0.16 EPS for its last quarter, surpassing analysts' expectations while achieving a net margin of 2.71%.

Hsbc Holdings PLC increased its stake in Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 64.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,692 shares of the company's stock after buying an additional 15,198 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Haverty Furniture Companies worth $762,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Haverty Furniture Companies by 1,929.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock valued at $30,000 after buying an additional 1,447 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Haverty Furniture Companies by 509.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock valued at $74,000 after purchasing an additional 3,123 shares in the last quarter. GAMMA Investing LLC grew its stake in Haverty Furniture Companies by 4,637.0% during the 1st quarter. GAMMA Investing LLC now owns 4,358 shares of the company's stock valued at $860,000 after purchasing an additional 4,266 shares in the last quarter. CWM LLC grew its stake in Haverty Furniture Companies by 163.0% during the 1st quarter. CWM LLC now owns 4,645 shares of the company's stock valued at $92,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Haverty Furniture Companies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,558 shares of the company's stock valued at $257,000 after purchasing an additional 1,997 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company's stock.

Haverty Furniture Companies Stock Up 4.4%

NYSE:HVT traded up $0.99 during trading hours on Thursday, reaching $23.26. 74,726 shares of the stock were exchanged, compared to its average volume of 127,512. The firm has a 50 day simple moving average of $21.80 and a 200-day simple moving average of $20.71. Haverty Furniture Companies, Inc. has a 52 week low of $17.01 and a 52 week high of $28.53. The stock has a market capitalization of $378.42 million, a P/E ratio of 20.23, a P/E/G ratio of 1.65 and a beta of 1.24.

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

Haverty Furniture Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Monday, August 25th. Haverty Furniture Companies's dividend payout ratio (DPR) is currently 111.30%.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $22.84, for a total transaction of $342,600.00. Following the transaction, the director owned 29,523 shares of the company's stock, valued at $674,305.32. This trade represents a 33.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Haverty Furniture Companies has an average rating of "Hold".

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.