Haverty Furniture Companies (NYSE:HVT) Chairman Clarence Smith Sells 20,991 Shares of Stock

Haverty Furniture Companies, Inc. (NYSE:HVT) Chairman Clarence Smith sold 20,991 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $28.16, for a total transaction of $591,106.56. Following the transaction, the chairman owned 71,705 shares in the company, valued at $2,019,212.80. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Haverty Furniture Companies Trading Down 0.3%

HVT stock traded down $0.10 during mid-day trading on Wednesday, hitting $28.24. 87,208 shares of the company were exchanged, compared to its average volume of 105,842. The firm has a fifty day simple moving average of $25.77 and a 200 day simple moving average of $23.96. The company has a market capitalization of $440.44 million, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. Haverty Furniture Companies, Inc. has a twelve month low of $19.89 and a twelve month high of $29.83.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The business had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. As a group, sell-side analysts anticipate that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 4.7%. Haverty Furniture Companies’s dividend payout ratio is presently 97.06%.

Institutional Trading of Haverty Furniture Companies

A number of institutional investors and hedge funds have recently made changes to their positions in HVT. Pzena Investment Management LLC bought a new stake in Haverty Furniture Companies in the second quarter valued at $39,915,000. BlackRock Inc. acquired a new stake in shares of Haverty Furniture Companies in the 2nd quarter worth about $39,128,000. Hodges Capital Management Inc. bought a new stake in Haverty Furniture Companies in the 4th quarter valued at about $4,948,000. Bank of New York Mellon Corp acquired a new position in Haverty Furniture Companies during the 2nd quarter valued at about $4,123,000. Finally, Empowered Funds LLC bought a new position in Haverty Furniture Companies in the 2nd quarter worth about $3,051,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on HVT. Wall Street Zen raised Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Haverty Furniture Companies in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Haverty Furniture Companies has a consensus rating of “Hold”.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.