Haverty Furniture Companies, Inc. $HVT Stock: Pzena Investment Management LLC Lowers Position

Pzena Investment Management LLC lowered its stake in Haverty Furniture Companies, Inc. (NYSE:HVT) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,520,237 shares of the company’s stock after selling 43,214 shares during the quarter. Pzena Investment Management LLC owned 9.75% of Haverty Furniture Companies worth $42,065,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in Haverty Furniture Companies during the 2nd quarter worth $1,042,000. Sei Investments Co. boosted its position in Haverty Furniture Companies by 65.5% during the first quarter. Sei Investments Co. now owns 164,994 shares of the company’s stock worth $3,495,000 after acquiring an additional 65,292 shares during the last quarter. BlackRock Inc. acquired a new position in Haverty Furniture Companies during the second quarter worth about $39,128,000. Bank of New York Mellon Corp acquired a new stake in Haverty Furniture Companies in the 2nd quarter valued at about $4,123,000. Finally, Empowered Funds LLC purchased a new stake in shares of Haverty Furniture Companies in the second quarter valued at approximately $3,051,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Haverty Furniture Companies Price Performance

Shares of HVT opened at $29.12 on Thursday. The firm has a fifty day moving average price of $28.01 and a 200 day moving average price of $25.16. The stock has a market cap of $454.00 million, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.53 and a beta of 1.33. Haverty Furniture Companies, Inc. has a 1-year low of $20.10 and a 1-year high of $30.60.

Haverty Furniture Companies (NYSE:HVT) last announced its earnings results on Wednesday, November 4th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The business had revenue of $203.15 million during the quarter, compared to analysts’ expectations of $206.87 million. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, equities analysts expect that Haverty Furniture Companies, Inc. will post 1.61 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. Haverty Furniture Companies’s payout ratio is 97.06%.

Analysts Set New Price Targets

A number of brokerages have commented on HVT. Weiss Ratings raised shares of Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, Haverty Furniture Companies currently has an average rating of “Hold”.

Insider Buying and Selling

In other Haverty Furniture Companies news, Chairman Clarence Smith sold 20,991 shares of the company’s stock in a transaction dated 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 directly owned 71,705 shares in the company, valued at approximately $2,019,212.80. This represents a 22.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.40% of the company’s stock.

Haverty Furniture Companies Company Profile

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.