Rawson Haverty, Jr. Sells 14,997 Shares of Haverty Furniture Companies (NYSE:HVT) Stock

Key Points

• Rawson Haverty, Jr., a director at Haverty Furniture Companies, sold 14,997 shares at an average price of $23.02, reducing his ownership by 50.80%.
• The company reported earnings of $0.16 per share for the last quarter, surpassing estimates, with revenue of $181.03 million.
• Haverty's quarterly dividend of $0.32 represents an annualized yield of 5.4%, although the payout ratio is currently very high at 111.30%.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) Director Rawson Haverty, Jr. sold 14,997 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $23.02, for a total value of $345,230.94. Following the sale, the director directly owned 14,526 shares in the company, valued at approximately $334,388.52. This trade represents a 50.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Haverty Furniture Companies Trading Up 0.3%

NYSE:HVT traded up $0.07 during trading hours on Monday, hitting $22.73. 107,780 shares of the company were exchanged, compared to its average volume of 109,252. The stock has a market capitalization of $369.83 million, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24. Haverty Furniture Companies, Inc. has a one year low of $17.01 and a one year high of $28.14. The company has a fifty day simple moving average of $22.20 and a 200 day simple moving average of $20.81.

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 for the quarter, topping the consensus estimate of $0.15 by $0.01. Haverty Furniture Companies had a return on equity of 6.39% and a net margin of 2.71%.The firm had revenue of $181.03 million during the quarter, compared to analyst estimates of $177.11 million. Equities research analysts predict that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

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

Institutional Investors Weigh In On Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of HVT. PNC Financial Services Group Inc. increased its holdings in shares of 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 during the period. Raymond James Financial Inc. purchased a new position in Haverty Furniture Companies in the second quarter worth $31,000. State of Wyoming purchased a new position in Haverty Furniture Companies in the second quarter worth $58,000. Nisa Investment Advisors LLC boosted 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 buying an additional 3,123 shares during the period. Finally, CWM LLC boosted 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 buying an additional 2,879 shares during the period. Institutional investors own 80.57% of the company's stock.

Analysts Set New Price Targets

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