Haverty Furniture Companies, Inc. (NYSE:HVT) Plans $0.32 Quarterly Dividend

Key Points

• Haverty Furniture Companies, Inc. has announced a quarterly dividend of $0.32 per share, which translates to an annualized yield of 6.1%, with the ex-dividend date set for August 25th.
• The company reported a net revenue of $181.03 million for the last quarter, surpassing analysts' expectations and achieving an earnings per share (EPS) of $0.16.
• Haverty Furniture has a dividend payout ratio of 52.2% and is expected to earn $1.57 per share next year, indicating that it can sustain its dividend payments despite a future payout ratio of 81.5%.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) announced a quarterly dividend on Monday, August 11th, Wall Street Journal reports. Shareholders of record on Monday, August 25th will be given a dividend of 0.32 per share on Wednesday, September 10th. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, August 25th.

Haverty Furniture Companies has a dividend payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Haverty Furniture Companies to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 81.5%.

Haverty Furniture Companies Price Performance

NYSE HVT traded down $0.45 on Thursday, hitting $22.69. 87,443 shares of the company were exchanged, compared to its average volume of 82,419. The company's 50 day moving average price is $21.08 and its 200-day moving average price is $20.67. The firm has a market capitalization of $366.44 million, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. Haverty Furniture Companies has a twelve month low of $17.01 and a twelve month 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 earnings per share (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, equities analysts expect that Haverty Furniture Companies will post 0.88 EPS for the current year.

Insider Buying and Selling at Haverty Furniture Companies

In other news, Director Rawson Haverty, Jr. sold 1,500 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $20.67, for a total value of $31,005.00. Following the transaction, the director owned 38,023 shares in the company, valued at $785,935.41. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of large investors have recently made changes to their positions in HVT. Pzena Investment Management LLC increased its holdings in shares of Haverty Furniture Companies by 61.5% in the 2nd quarter. Pzena Investment Management LLC now owns 1,560,557 shares of the company's stock valued at $31,757,000 after purchasing an additional 594,476 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Haverty Furniture Companies by 35.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 301,683 shares of the company's stock worth $6,715,000 after buying an additional 78,553 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Haverty Furniture Companies in the fourth quarter worth approximately $1,659,000. Jane Street Group LLC increased its holdings in Haverty Furniture Companies by 68.7% in the first 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 last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Haverty Furniture Companies in the second quarter worth approximately $1,288,000. Institutional investors and hedge funds own 80.57% of the company's stock.

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.