Haverty Furniture Companies, Inc. $HVT Stock: Tectonic Advisors LLC Increases Position

Tectonic Advisors LLC grew its stake in Haverty Furniture Companies, Inc. (NYSE:HVT) by 27.2% in the third quarter, Holdings Channel reports. The fund owned 79,791 shares of the company’s stock after purchasing an additional 17,053 shares during the period. Tectonic Advisors LLC’s holdings in Haverty Furniture Companies were worth $2,208,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Haverty Furniture Companies during the 2nd quarter valued at about $32,000. Farther Finance Advisors LLC lifted its holdings in Haverty Furniture Companies by 84.4% in the third quarter. Farther Finance Advisors LLC now owns 1,252 shares of the company’s stock valued at $35,000 after acquiring an additional 573 shares during the last quarter. Fifth Third Bancorp purchased a new position in Haverty Furniture Companies in the first quarter worth approximately $49,000. State of Alaska Department of Revenue increased its stake in Haverty Furniture Companies by 41.5% during the third quarter. State of Alaska Department of Revenue now owns 2,759 shares of the company’s stock worth $75,000 after acquiring an additional 809 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Haverty Furniture Companies during the second quarter worth $205,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Zacks Research upgraded Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Wall Street Zen upgraded Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Haverty Furniture Companies Trading Down 1.2%

HVT traded down $0.35 during mid-day trading on Friday, hitting $29.53. 81,865 shares of the stock were exchanged, compared to its average volume of 100,206. The firm’s fifty day moving average is $27.80 and its two-hundred day moving average is $25.34. Haverty Furniture Companies, Inc. has a 1-year low of $20.06 and a 1-year high of $29.88. The company has a market cap of $460.40 million, a PE ratio of 21.71, a PEG ratio of 1.57 and a beta of 1.22.

Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $194.94 million during the quarter, compared to the consensus estimate of $189.19 million. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%. As a group, research analysts anticipate that Haverty Furniture Companies, Inc. will post 1.59 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 25th. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 97.06%.

Insider Transactions at Haverty Furniture Companies

In other news, Chairman Clarence Smith sold 20,991 shares of Haverty Furniture Companies stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $28.16, for a total value of $591,106.56. Following the completion of the transaction, the chairman owned 71,705 shares in the company, valued at approximately $2,019,212.80. This trade represents a 22.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is owned by corporate insiders.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc is a specialty home-furnishings retailer that sells furniture and related products for living rooms, bedrooms, dining rooms, home offices and other areas of the home. Its merchandise includes sofas, chairs, tables, beds, mattresses, case goods, rugs, lighting and home accessories, with products offered through its retail stores and website.

Founded in Atlanta in 1885 by James Joseph Haverty, the company has grown from a regional furniture business into a multi-state retailer.