Rawson Haverty, Jr. Sells 10,003 Shares of Haverty Furniture Companies (NYSE:HVT) 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 firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $23.10, for a total value of $231,069.30. Following the completion of the transaction, the director directly owned 4,523 shares in the company, valued at $104,481.30. The trade was a 68.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Haverty Furniture Companies Price Performance

Shares of HVT traded up $0.07 on Monday, reaching $22.73. 107,780 shares of the stock traded hands, compared to its average volume of 109,252. The stock's 50-day moving average price is $22.20 and its 200-day moving average price is $20.81. The firm has a market cap of $369.83 million, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.66 and a beta of 1.24. Haverty Furniture Companies, Inc. has a 12 month low of $17.01 and a 12 month high of $28.14.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $181.03 million for the quarter, compared to analyst estimates 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 research analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

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

Hedge Funds Weigh In On Haverty Furniture Companies

A number of institutional investors and hedge funds have recently bought and sold shares of HVT. PNC Financial Services Group Inc. boosted its stake in Haverty Furniture Companies by 1,929.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock worth $30,000 after purchasing an additional 1,447 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Haverty Furniture Companies in the second quarter worth $31,000. State of Wyoming bought a new stake in shares of Haverty Furniture Companies during the second quarter worth $58,000. Nisa Investment Advisors LLC lifted its stake in shares of 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 period. Finally, CWM LLC lifted its stake in shares of 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 period. Institutional investors and hedge funds own 80.57% of the company's stock.

Wall Street Analysts Forecast Growth

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