Empowered Funds LLC Takes Position in Haverty Furniture Companies, Inc. $HVT

Empowered Funds LLC purchased a new stake in Haverty Furniture Companies, Inc. (NYSE:HVT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 119,516 shares of the company’s stock, valued at approximately $3,051,000.

A number of other institutional investors have also recently bought and sold shares of HVT. Sei Investments Co. lifted its stake in Haverty Furniture Companies by 65.5% during the first quarter. Sei Investments Co. now owns 164,994 shares of the company’s stock valued at $3,495,000 after buying an additional 65,292 shares in the last quarter. Pzena Investment Management LLC acquired a new position in shares of Haverty Furniture Companies in the second quarter worth about $39,915,000. Hodges Capital Management Inc. purchased a new position in shares of Haverty Furniture Companies in the fourth quarter worth approximately $4,948,000. BlackRock Inc. purchased a new position in shares of Haverty Furniture Companies in the second quarter worth approximately $39,128,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Haverty Furniture Companies during the second quarter valued at approximately $1,042,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Haverty Furniture Companies Trading Down 0.6%

NYSE HVT opened at $27.12 on Wednesday. The company has a market capitalization of $422.80 million, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. Haverty Furniture Companies, Inc. has a 1-year low of $19.89 and a 1-year high of $29.83. The firm’s fifty day simple moving average is $26.45 and its 200-day simple moving average is $24.03.

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

Haverty Furniture Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, August 25th. Haverty Furniture Companies’s payout ratio is currently 97.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Insider Activity at Haverty Furniture Companies

In related news, Chairman Clarence H. Smith sold 20,991 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman owned 71,705 shares of the company’s stock, valued at approximately $2,019,212.80. The trade was a 22.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.40% of the company’s stock.

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.