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 Haverty Furniture Companies 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 sale, the chairman owned 71,705 shares in the company, valued at $2,019,212.80. This 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 is available through the SEC website.

Haverty Furniture Companies Stock Down 0.3%

Shares of HVT opened at $28.24 on Thursday. The firm has a market cap of $440.32 million, a price-to-earnings ratio of 20.77, a PEG ratio of 1.46 and a beta of 1.20. The business’s 50 day moving average is $25.86 and its two-hundred day moving average is $23.98. Haverty Furniture Companies, Inc. has a 52-week low of $19.89 and a 52-week high of $29.83.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $189.19 million. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. On average, equities analysts expect that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 25th. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 97.06%.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of large investors have recently bought and sold shares of HVT. Empowered Funds LLC bought a new position in Haverty Furniture Companies during the 2nd quarter worth $3,051,000. Public Employees Retirement System of Ohio acquired a new position in shares of Haverty Furniture Companies during the second quarter valued at $302,000. Bank of America Corp DE acquired a new position in shares of Haverty Furniture Companies during the second quarter valued at $574,000. Odyssean LLC bought a new position in shares of Haverty Furniture Companies during the second quarter worth about $422,000. Finally, Hsbc Holdings PLC bought a new position in shares of Haverty Furniture Companies during the second quarter worth about $1,042,000. Institutional investors own 80.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HVT shares. Weiss Ratings upgraded shares of Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research upgraded Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two equities research 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 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.