Haverty Furniture Companies, Inc. (NYSE:HVT) Shares Sold by LSV Asset Management

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 lessened its holdings in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 543,770 shares of the company's stock after selling 17,300 shares during the quarter. LSV Asset Management owned about 3.36% of Haverty Furniture Companies worth $10,723,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Haverty Furniture Companies during the 4th quarter worth approximately $56,000. Nisa Investment Advisors LLC increased its position in shares of Haverty Furniture Companies by 509.5% during the first quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock worth $74,000 after acquiring an additional 3,123 shares during the period. GAMMA Investing LLC raised its stake in shares of Haverty Furniture Companies by 4,637.0% in the first quarter. GAMMA Investing LLC now owns 4,358 shares of the company's stock valued at $860,000 after acquiring an additional 4,266 shares in the last quarter. CWM LLC boosted its holdings in Haverty Furniture Companies by 163.0% in the first 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 period. Finally, Walleye Capital LLC acquired a new position in Haverty Furniture Companies during the 4th quarter worth $242,000. Hedge funds and other institutional investors own 80.57% of the company's stock.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $20.67, for a total transaction of $31,005.00. Following the sale, the director owned 38,023 shares of the company's stock, valued at approximately $785,935.41. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HVT has been the topic of a number of analyst reports. Wall Street Zen cut Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Sidoti upgraded shares of Haverty Furniture Companies to a "hold" rating in a research note on Tuesday, April 29th.

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock traded down $0.04 during trading on Friday, hitting $21.23. 76,010 shares of the stock were exchanged, compared to its average volume of 129,921. The firm's 50-day moving average price is $20.88 and its 200 day moving average price is $20.70. The stock has a market cap of $342.91 million, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.55 and a beta of 1.42. Haverty Furniture Companies, Inc. has a 12-month low of $17.01 and a 12-month high of $29.54.

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, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $181.03 million during 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 forecast that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 2nd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.0%. The ex-dividend date was Monday, June 2nd. Haverty Furniture Companies's dividend payout ratio is currently 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.