BNP Paribas Arbitrage SA lifted its stake in shares of Haverty Furniture Companies, Inc. (NYSE:HVT) by 48.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,659 shares of the company’s stock after acquiring an additional 3,494 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.05% of Haverty Furniture Companies worth $279,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Haverty Furniture Companies in the second quarter worth approximately $103,000. Russell Investments Group Ltd. grew its position in Haverty Furniture Companies by 20.8% in the second quarter. Russell Investments Group Ltd. now owns 6,764 shares of the company’s stock worth $169,000 after buying an additional 1,164 shares during the last quarter. Stephens Inc. AR acquired a new position in Haverty Furniture Companies in the second quarter worth approximately $213,000. Citadel Advisors LLC acquired a new position in Haverty Furniture Companies in the second quarter worth approximately $288,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Haverty Furniture Companies in the third quarter worth approximately $290,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
In related news, Director Fred L. Schuermann sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total value of $45,142.50. Following the completion of the transaction, the director now owns 3 shares of the company’s stock, valued at approximately $69.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.31% of the company’s stock.
Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $207.60 million for the quarter, compared to analyst estimates of $215.32 million. Haverty Furniture Companies had a net margin of 3.53% and a return on equity of 10.10%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. analysts predict that Haverty Furniture Companies, Inc. will post 1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 22nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Tuesday, November 21st. Haverty Furniture Companies’s dividend payout ratio is 44.12%.
Separately, Zacks Investment Research upgraded shares of Haverty Furniture Companies from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, October 4th.
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Haverty Furniture Companies Company Profile
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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