Haverty Furniture Companies (NYSE:HVT) Director Sells $231,069.30 in Stock

Key Points

• Director Rawson Haverty, Jr. sold 10,003 shares of Haverty Furniture Companies at an average price of $23.10, totaling approximately $231,069, which decreased his ownership by 68.86%.
• The company recently declared a quarterly dividend of $0.32, resulting in an annualized yield of 5.4%, despite a payout ratio of 111.30%.
• Haverty Furniture Companies reported strong earnings with an EPS of $0.16, exceeding analysts' estimates of $0.15, and revenue of $181.03 million for the last quarter.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) Director Rawson Haverty, Jr. sold 10,003 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $23.10, for a total transaction of $231,069.30. Following the completion of the transaction, the director owned 4,523 shares in the company, valued at $104,481.30. This represents a 68.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Haverty Furniture Companies Price Performance

HVT stock traded up $0.41 during mid-day trading on Thursday, reaching $23.75. The company had a trading volume of 85,902 shares, compared to its average volume of 125,984. The company has a market capitalization of $386.34 million, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. The firm has a 50 day moving average of $22.16 and a 200 day moving average of $20.80. Haverty Furniture Companies, Inc. has a 12 month low of $17.01 and a 12 month high of $28.32.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $181.03 million for the quarter, compared to the consensus estimate of $177.11 million. Haverty Furniture Companies had a net margin of 2.71% and a return on equity of 6.39%. Analysts anticipate that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Monday, August 25th. Haverty Furniture Companies's dividend payout ratio is currently 111.30%.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently modified their holdings of HVT. PNC Financial Services Group Inc. lifted its position in Haverty Furniture Companies by 1,929.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock valued at $30,000 after acquiring an additional 1,447 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Haverty Furniture Companies during the second quarter valued at approximately $31,000. State of Wyoming purchased a new stake in Haverty Furniture Companies during the second quarter valued at approximately $58,000. Nisa Investment Advisors LLC lifted its position in Haverty Furniture Companies by 509.5% during the first quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock valued at $74,000 after acquiring an additional 3,123 shares during the last quarter. Finally, CWM LLC lifted its position in Haverty Furniture Companies by 163.0% during the first quarter. CWM LLC now owns 4,645 shares of the company's stock valued at $92,000 after acquiring an additional 2,879 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

About Haverty Furniture Companies

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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