StockNews.com Begins Coverage on Haverty Furniture Companies (NYSE:HVT)

StockNews.com initiated coverage on shares of Haverty Furniture Companies (NYSE:HVT – Get Rating) in a research report report published on Thursday morning. The brokerage issued a buy rating on the stock.

Haverty Furniture Companies Stock Performance

NYSE:HVT opened at $31.78 on Thursday. The firm’s 50-day moving average is $34.69 and its 200-day moving average is $30.75. Haverty Furniture Companies has a 52-week low of $22.77 and a 52-week high of $38.85. The company has a market cap of $513.25 million, a price-to-earnings ratio of 6.08 and a beta of 1.41.

Haverty Furniture Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, March 10th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.12 annualized dividend and a dividend yield of 3.52%. Haverty Furniture Companies’s payout ratio is 21.41%.

Insider Transactions at Haverty Furniture Companies

In other news, VP John Linwood Gill sold 3,612 shares of the business’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $37.51, for a total transaction of $135,486.12. Following the transaction, the vice president now owns 11,039 shares in the company, valued at approximately $414,072.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Clarence H. Smith sold 13,880 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $34.29, for a total value of $475,945.20. Following the sale, the chief executive officer now owns 34,300 shares of the company’s stock, valued at $1,176,147. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John Linwood Gill sold 3,612 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $37.51, for a total transaction of $135,486.12. Following the completion of the sale, the vice president now directly owns 11,039 shares in the company, valued at approximately $414,072.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,001 shares of company stock worth $1,069,260. 7.43% of the stock is currently owned by company insiders.

Institutional Trading of Haverty Furniture Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HVT. BlackRock Inc. increased its stake in Haverty Furniture Companies by 13.5% in the first quarter. BlackRock Inc. now owns 3,101,540 shares of the company’s stock valued at $85,045,000 after acquiring an additional 369,931 shares during the period. First Trust Advisors LP boosted its position in Haverty Furniture Companies by 1,267.8% in the first quarter. First Trust Advisors LP now owns 334,971 shares of the company’s stock valued at $9,185,000 after buying an additional 310,481 shares in the last quarter. Norges Bank acquired a new position in Haverty Furniture Companies in the fourth quarter valued at about $4,141,000. Millennium Management LLC boosted its position in Haverty Furniture Companies by 515.0% in the fourth quarter. Millennium Management LLC now owns 132,958 shares of the company’s stock valued at $3,975,000 after buying an additional 111,340 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Haverty Furniture Companies by 67.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 242,367 shares of the company’s stock valued at $7,247,000 after buying an additional 97,550 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Haverty Furniture Companies Company Profile

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Haverty Furniture Cos., Inc engages in the retail of residential furniture and accessories. The company was founded by James Joseph Haverty in 1885 and is headquartered in Atlanta, GA.