LSV Asset Management Trims Stock Position in Haverty Furniture Companies, Inc. (NYSE:HVT)

Key Points

• LSV Asset Management has reduced its stake in Haverty Furniture Companies by 3.1% during the first quarter, now owning approximately 543,770 shares valued at $10.7 million.
• Haverty Furniture reported earnings per share of $0.16 for the last quarter, exceeding analysts' expectations and generating revenues of $181.03 million.
• The company recently declared a quarterly dividend of $0.32, equating to an annual yield of 6.0%, despite a high dividend payout ratio of 111.30%.

LSV Asset Management decreased its position in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 543,770 shares of the company's stock after selling 17,300 shares during the period. LSV Asset Management owned approximately 3.36% of Haverty Furniture Companies worth $10,723,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. KLP Kapitalforvaltning AS bought a new position in Haverty Furniture Companies in the fourth quarter valued at approximately $56,000. Prudential Financial Inc. lifted its position in shares of Haverty Furniture Companies by 32.0% during the 4th quarter. Prudential Financial Inc. now owns 49,552 shares of the company's stock worth $1,103,000 after buying an additional 12,000 shares during the last quarter. Franklin Resources Inc. boosted its stake in Haverty Furniture Companies by 15.3% in the fourth quarter. Franklin Resources Inc. now owns 147,064 shares of the company's stock valued at $3,274,000 after buying an additional 19,546 shares in the last quarter. Geode Capital Management LLC raised its stake in Haverty Furniture Companies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 326,221 shares of the company's stock worth $7,263,000 after acquiring an additional 5,107 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Haverty Furniture Companies by 20.9% in 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 during the last quarter. 80.57% of the stock is owned by institutional investors.

Haverty Furniture Companies Stock Down 1.0%

Shares of Haverty Furniture Companies stock traded down $0.21 on Wednesday, reaching $21.18. The company's stock had a trading volume of 58,335 shares, compared to its average volume of 88,378. The company has a market capitalization of $341.98 million, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.56 and a beta of 1.42. The firm's fifty day simple moving average is $20.86 and its two-hundred day simple moving average is $20.70. Haverty Furniture Companies, Inc. has a 52 week low of $17.01 and a 52 week high of $29.54.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 return on equity of 6.39% and a net margin of 2.71%. As a group, research analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 2nd were issued a $0.32 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.0%. Haverty Furniture Companies's payout ratio is 111.30%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Sidoti raised Haverty Furniture Companies to a "hold" rating in a research note on Tuesday, April 29th. 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.

Insider Buying and Selling at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 1,500 shares of Haverty Furniture Companies stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $20.67, for a total transaction of $31,005.00. Following the completion of the transaction, the director directly owned 38,023 shares of the company's stock, valued at approximately $785,935.41. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.63% of the stock is currently owned by company insiders.

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.