Jacobs Levy Equity Management Inc. Sells 81,339 Shares of Haverty Furniture Companies, Inc. $HVT

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Haverty Furniture Companies by 27.0%, selling 81,339 shares, leaving it with 220,344 shares worth approximately $4.35 million.
• Several other institutional investors significantly increased their positions in Haverty Furniture Companies, with PNC Financial Services growing its holdings by 1,929.3% and Nisa Investment Advisors by 509.5% in the first quarter.
• Haverty Furniture Companies recently declared a quarterly dividend of $0.32, reflecting an annualized yield of 5.4%, despite having a payout ratio of 111.30%.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 27.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 220,344 shares of the company's stock after selling 81,339 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.36% of Haverty Furniture Companies worth $4,345,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Haverty Furniture Companies by 1,929.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock valued at $30,000 after purchasing an additional 1,447 shares during the last quarter. CWM LLC grew its position 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 during the last quarter. Nisa Investment Advisors LLC grew its position 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 during the last quarter. Royal Bank of Canada grew its position in Haverty Furniture Companies by 13.8% during the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company's stock valued at $534,000 after purchasing an additional 3,293 shares during the last quarter. Finally, Waters Parkerson & CO. LLC grew its position in Haverty Furniture Companies by 11.5% during the 4th quarter. Waters Parkerson & CO. LLC now owns 32,100 shares of the company's stock valued at $715,000 after purchasing an additional 3,300 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Haverty Furniture Companies Stock Down 5.3%

Shares of NYSE HVT traded down $1.26 during trading on Friday, reaching $22.71. 87,919 shares of the company traded hands, compared to its average volume of 101,078. The firm has a 50 day simple moving average of $22.09 and a 200-day simple moving average of $20.76. The stock has a market capitalization of $369.42 million, a PE ratio of 19.75, a P/E/G ratio of 1.67 and a beta of 1.24. Haverty Furniture Companies, Inc. has a 52-week low of $17.01 and a 52-week high of $28.53.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $181.03 million for the quarter, compared to the consensus estimate 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, research analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, August 25th. Haverty Furniture Companies's dividend payout ratio (DPR) is presently 111.30%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Insider Activity

In other news, Director Rawson Haverty, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $22.84, for a total value of $342,600.00. Following the transaction, the director owned 29,523 shares in the company, valued at $674,305.32. This represents a 33.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.63% of the stock is currently owned by insiders.

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.