Invesco Ltd. Sells 30,237 Shares of Ethan Allen Interiors Inc. $ETD

Key Points

• Invesco Ltd. has decreased its holdings in Ethan Allen Interiors Inc. by 8.6%, selling 30,237 shares and now owning 321,235 shares valued at approximately $8.9 million.
• Ethan Allen Interiors reported earnings of $0.49 per share, exceeding the expected $0.45, with revenue of $160.36 million for the quarter.
• The company declared a quarterly dividend of $0.39 per share, reflecting an annualized yield of 5.2% and a payout ratio of 77.61%.

Invesco Ltd. cut its stake in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,235 shares of the company's stock after selling 30,237 shares during the quarter. Invesco Ltd. owned about 1.26% of Ethan Allen Interiors worth $8,898,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Ethan Allen Interiors by 39.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,878 shares of the company's stock worth $1,742,000 after buying an additional 17,774 shares during the last quarter. Deutsche Bank AG increased its stake in Ethan Allen Interiors by 225.4% in the first quarter. Deutsche Bank AG now owns 51,867 shares of the company's stock worth $1,437,000 after purchasing an additional 35,929 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ethan Allen Interiors by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 902,260 shares of the company's stock worth $24,993,000 after purchasing an additional 64,565 shares during the period. Vanguard Group Inc. increased its stake in Ethan Allen Interiors by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,680,620 shares of the company's stock worth $46,553,000 after purchasing an additional 13,822 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Ethan Allen Interiors in the first quarter worth $138,000. 83.80% of the stock is currently owned by institutional investors.

Ethan Allen Interiors Stock Performance

Ethan Allen Interiors stock traded down $0.09 during midday trading on Friday, hitting $29.46. 337,915 shares of the company's stock were exchanged, compared to its average volume of 302,860. The company has a market cap of $749.27 million, a PE ratio of 14.66 and a beta of 1.19. The firm has a 50-day moving average of $29.39 and a two-hundred day moving average of $28.02. Ethan Allen Interiors Inc. has a 12 month low of $24.55 and a 12 month high of $33.77.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.45 by $0.04. Ethan Allen Interiors had a net margin of 8.39% and a return on equity of 10.92%. 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 posted $0.70 EPS. The company's quarterly revenue was down 4.9% compared to the same quarter last year. As a group, equities analysts expect that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current year.

Ethan Allen Interiors Dividend Announcement

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

Analysts Set New Price Targets

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

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.