Wedge Capital Management L L P NC Raises Position in Ethan Allen Interiors Inc. $ETD

Key Points

• Wedge Capital Management L L P NC increased its stake in Ethan Allen Interiors by 26.1% during the second quarter, now owning approximately $1.41 million worth of shares.
• The CEO, M Farooq Kathwari, sold 15,000 shares at an average price of $29.37, reducing his ownership by 0.93%.
• Ethan Allen Interiors declared a quarterly dividend of $0.39, yielding 5.4%, with a payout ratio of 77.61%.

Wedge Capital Management L L P NC grew its position in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 26.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 50,685 shares of the company's stock after buying an additional 10,499 shares during the period. Wedge Capital Management L L P NC owned approximately 0.20% of Ethan Allen Interiors worth $1,412,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ethan Allen Interiors by 12.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,443 shares of the company's stock worth $508,000 after buying an additional 2,073 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ethan Allen Interiors by 5,743.0% in the first quarter. GAMMA Investing LLC now owns 22,437 shares of the company's stock worth $622,000 after buying an additional 22,053 shares during the last quarter. American Century Companies Inc. raised its holdings in Ethan Allen Interiors by 9.2% in the first quarter. American Century Companies Inc. now owns 792,940 shares of the company's stock worth $21,964,000 after buying an additional 66,727 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Ethan Allen Interiors in the first quarter worth about $1,552,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ethan Allen Interiors by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 902,260 shares of the company's stock worth $24,993,000 after buying an additional 64,565 shares during the last quarter. 83.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $30.00 target price on shares of Ethan Allen Interiors in a report on Thursday, July 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.00.

Insider Buying and Selling at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 15,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $29.37, for a total value of $440,550.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,652 shares in the company, valued at $46,952,409.24. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.48% of the stock is currently owned by insiders.

Ethan Allen Interiors Trading Down 1.0%

Shares of NYSE ETD opened at $28.98 on Tuesday. The firm has a market capitalization of $737.01 million, a price-to-earnings ratio of 14.42 and a beta of 1.13. Ethan Allen Interiors Inc. has a 12-month low of $24.55 and a 12-month high of $32.61. The firm has a 50 day moving average of $29.51 and a 200 day moving average of $28.11.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. The business had revenue of $160.36 million during the quarter, compared to analyst estimates of $152.20 million. Ethan Allen Interiors had a net margin of 8.39% and a return on equity of 10.92%. The company's revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts predict that Ethan Allen Interiors Inc. will post 2.32 EPS for the current year.

Ethan Allen Interiors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, August 13th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Wednesday, August 13th. Ethan Allen Interiors's dividend payout ratio is presently 77.61%.

Ethan Allen Interiors Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.

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