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

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Haverty Furniture Companies by 1,929.3% during 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 during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Haverty Furniture Companies by 509.5% in the first 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. CWM LLC lifted its holdings in shares of Haverty Furniture Companies by 163.0% in the first 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. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Haverty Furniture Companies in the fourth quarter worth about $285,000. Finally, Deutsche Bank AG lifted its holdings in shares of Haverty Furniture Companies by 66.2% in the fourth quarter. Deutsche Bank AG now owns 17,869 shares of the company's stock worth $398,000 after buying an additional 7,118 shares in the last quarter. Institutional investors own 80.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, 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 research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".

Insider Activity at Haverty Furniture Companies

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 15,000 shares of Haverty Furniture Companies stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $22.84, for a total transaction of $342,600.00. Following the transaction, the director directly owned 29,523 shares of the company's stock, valued at approximately $674,305.32. This trade represents a 33.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.63% of the company's stock.

Haverty Furniture Companies Stock Performance

HVT traded down $1.26 on Friday, reaching $22.71. The company had a trading volume of 87,919 shares, compared to its average volume of 105,039. The business has a 50 day simple moving average of $22.09 and a 200 day simple moving average of $20.78. The company has a market cap of $369.49 million, a price-to-earnings ratio of 19.75, a P/E/G ratio of 1.75 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 earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business 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, equities research analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current fiscal year.

Haverty Furniture Companies Announces Dividend

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

Haverty Furniture Companies 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.