Rhumbline Advisers Sells 51,223 Shares of Haverty Furniture Companies, Inc. $HVT

Key Points

• Rhumbline Advisers reduced its holdings in Haverty Furniture Companies by 69.0%, selling 51,223 shares and now owning only 23,053 shares worth $455,000.
• Insider transactions include Director Rawson Haverty, Jr. selling 10,003 shares for approximately $231,069, leading to a 68.86% decrease in his ownership.
• Haverty recently announced a quarterly dividend of $0.32 per share, translating to an annualized yield of 5.6%, despite a high dividend payout ratio of 111.30%.

Rhumbline Advisers lowered its stake in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,053 shares of the company's stock after selling 51,223 shares during the quarter. Rhumbline Advisers owned 0.14% of Haverty Furniture Companies worth $455,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HVT. Pzena Investment Management LLC boosted its holdings in Haverty Furniture Companies by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 966,081 shares of the company's stock valued at $19,051,000 after acquiring an additional 3,979 shares during the period. American Century Companies Inc. boosted its holdings in Haverty Furniture Companies by 6.9% during the 1st quarter. American Century Companies Inc. now owns 432,216 shares of the company's stock valued at $8,523,000 after acquiring an additional 27,898 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Haverty Furniture Companies by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 180,417 shares of the company's stock worth $3,558,000 after buying an additional 10,944 shares during the period. Jane Street Group LLC lifted its holdings in shares of Haverty Furniture Companies by 68.7% in the 1st quarter. Jane Street Group LLC now owns 172,099 shares of the company's stock worth $3,394,000 after buying an additional 70,060 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Haverty Furniture Companies by 4.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 166,585 shares of the company's stock worth $3,285,000 after buying an additional 6,387 shares during the period. Institutional investors own 80.57% of the company's stock.

Insider Activity at Haverty Furniture Companies

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 10,003 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $23.10, for a total transaction of $231,069.30. Following the transaction, the director owned 4,523 shares in the company, valued at approximately $104,481.30. This represents a 68.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 40,000 shares of company stock valued at $918,900 in the last quarter. 8.63% of the stock is owned by corporate insiders.

Haverty Furniture Companies Price Performance

Shares of NYSE HVT opened at $22.74 on Wednesday. The stock has a market capitalization of $369.93 million, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24. Haverty Furniture Companies, Inc. has a 1-year low of $17.01 and a 1-year high of $27.63. The business has a fifty day moving average price of $22.24 and a 200 day moving average price of $20.82.

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 (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Haverty Furniture Companies had a return on equity of 6.39% and a net margin of 2.71%.The company had revenue of $181.03 million for the quarter, compared to analyst estimates of $177.11 million. As a group, equities research analysts anticipate that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

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

Analyst Ratings Changes

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

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.

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