Tectonic Advisors LLC Takes Position in Haverty Furniture Companies, Inc. $HVT

Key Points

• Tectonic Advisors LLC opened a new stake of 85,208 shares in Q4 (~$1.99M), representing about 0.52% of Haverty, joining other institutions that pushed institutional ownership to roughly 80.6%.
• Haverty yields 5.9% with a $0.33 quarterly dividend ($1.32 annualized), but the payout ratio is 112.82%, suggesting the dividend may be unsustainably high relative to earnings.
• Analyst sentiment is cautious — the consensus rating is "Reduce" after a series of downgrades, even though the company slightly beat quarterly expectations (EPS $0.50 vs. $0.48; revenue $201.9M vs. $197.5M).

Tectonic Advisors LLC purchased a new stake in shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 85,208 shares of the company's stock, valued at approximately $1,990,000. Tectonic Advisors LLC owned 0.52% of Haverty Furniture Companies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Haverty Furniture Companies during the 4th quarter valued at approximately $238,000. Qube Research & Technologies Ltd lifted its position in shares of Haverty Furniture Companies by 19.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 131,675 shares of the company's stock valued at $2,888,000 after acquiring an additional 21,119 shares during the period. Aquatic Capital Management LLC lifted its position in shares of Haverty Furniture Companies by 109.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 11,740 shares of the company's stock valued at $257,000 after acquiring an additional 6,140 shares during the period. Lazard Asset Management LLC lifted its position in shares of Haverty Furniture Companies by 8.2% during the 3rd quarter. Lazard Asset Management LLC now owns 66,984 shares of the company's stock valued at $1,469,000 after acquiring an additional 5,092 shares during the period. Finally, Man Group plc acquired a new stake in shares of Haverty Furniture Companies during the 3rd quarter valued at approximately $1,425,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Haverty Furniture Companies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Finally, Zacks Research downgraded Haverty Furniture Companies from a "hold" rating to a "strong sell" rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Haverty Furniture Companies has a consensus rating of "Reduce".

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock opened at $22.45 on Monday. Haverty Furniture Companies, Inc. has a 1 year low of $17.01 and a 1 year high of $27.67. The company has a market capitalization of $362.35 million, a P/E ratio of 19.18, a P/E/G ratio of 1.00 and a beta of 1.33. The business has a 50 day moving average price of $23.40 and a 200 day moving average price of $23.32.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $201.92 million during the quarter, compared to analysts' expectations of $197.47 million. Haverty Furniture Companies had a net margin of 2.60% and a return on equity of 6.45%. As a group, research analysts expect that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, March 10th. Haverty Furniture Companies's payout ratio is presently 112.82%.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.

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