Argent Capital Management LLC cut its stake in shares of Hooker Furniture Corporation (NASDAQ:HOFT) by 28.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,761 shares of the company’s stock after selling 37,975 shares during the period. Argent Capital Management LLC owned approximately 0.83% of Hooker Furniture Corporation worth $3,941,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Alps Advisors Inc. grew its stake in shares of Hooker Furniture Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 15,522 shares of the company’s stock worth $639,000 after purchasing an additional 41 shares during the period. First Interstate Bank grew its stake in shares of Hooker Furniture Corporation by 2.2% during the second quarter. First Interstate Bank now owns 5,333 shares of the company’s stock worth $219,000 after purchasing an additional 115 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Hooker Furniture Corporation by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,287 shares of the company’s stock worth $383,000 after purchasing an additional 187 shares during the period. American International Group Inc. grew its stake in shares of Hooker Furniture Corporation by 7.1% during the first quarter. American International Group Inc. now owns 6,988 shares of the company’s stock worth $217,000 after purchasing an additional 464 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Hooker Furniture Corporation by 40.0% during the second quarter. Legal & General Group Plc now owns 2,424 shares of the company’s stock worth $100,000 after purchasing an additional 693 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

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In related news, insider Michael W. Delgatti sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $43.03, for a total transaction of $430,300.00. Following the completion of the transaction, the insider now directly owns 28,425 shares of the company’s stock, valued at approximately $1,223,127.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director E Larry Ryder sold 5,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $44.41, for a total value of $222,050.00. Following the transaction, the director now directly owns 20,780 shares of the company’s stock, valued at $922,839.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,607 shares of company stock valued at $2,506,409. 2.90% of the stock is owned by corporate insiders.

Separately, BidaskClub raised Hooker Furniture Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th.

Shares of Hooker Furniture Corporation (NASDAQ HOFT) traded down 0.31% during midday trading on Monday, hitting $48.35. The company had a trading volume of 11,656 shares. The stock has a market capitalization of $559.46 million, a price-to-earnings ratio of 18.75 and a beta of 0.62. Hooker Furniture Corporation has a one year low of $24.93 and a one year high of $50.53. The stock’s 50-day moving average price is $43.97 and its 200-day moving average price is $41.61.

Hooker Furniture Corporation (NASDAQ:HOFT) last announced its earnings results on Thursday, September 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.06. The business had revenue of $156.31 million during the quarter, compared to analyst estimates of $148.56 million. Hooker Furniture Corporation had a return on equity of 15.28% and a net margin of 4.94%. Hooker Furniture Corporation’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. Analysts predict that Hooker Furniture Corporation will post $2.78 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, September 14th. Hooker Furniture Corporation’s dividend payout ratio is currently 18.53%.

About Hooker Furniture Corporation

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

Institutional Ownership by Quarter for Hooker Furniture Corporation (NASDAQ:HOFT)

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