Denali Advisors LLC Raises Position in Haverty Furniture Companies, Inc. (NYSE:HVT)

Denali Advisors LLC lifted its stake in Haverty Furniture Companies, Inc. (NYSE:HVT) by 61.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 56,400 shares of the company’s stock after acquiring an additional 21,400 shares during the quarter. Denali Advisors LLC’s holdings in Haverty Furniture Companies were worth $1,924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of HVT. Rhumbline Advisers boosted its position in shares of Haverty Furniture Companies by 58.6% in the third quarter. Rhumbline Advisers now owns 114,258 shares of the company’s stock worth $3,288,000 after buying an additional 42,198 shares during the period. Invesco Ltd. lifted its stake in shares of Haverty Furniture Companies by 8.8% in the third quarter. Invesco Ltd. now owns 322,446 shares of the company’s stock worth $9,280,000 after acquiring an additional 26,157 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Haverty Furniture Companies in the third quarter worth about $416,000. American Century Companies Inc. lifted its stake in shares of Haverty Furniture Companies by 4.9% in the third quarter. American Century Companies Inc. now owns 203,389 shares of the company’s stock worth $5,854,000 after acquiring an additional 9,455 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Haverty Furniture Companies by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,048,004 shares of the company’s stock worth $30,162,000 after acquiring an additional 5,342 shares in the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Analyst Upgrades and Downgrades

HVT has been the topic of several recent analyst reports. StockNews.com cut Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Benchmark reiterated a “buy” rating and issued a $45.00 price target on shares of Haverty Furniture Companies in a research note on Thursday, May 2nd.

Haverty Furniture Companies Trading Down 0.9 %

NYSE HVT traded down $0.23 on Wednesday, hitting $24.04. 67,612 shares of the stock traded hands, compared to its average volume of 129,782. The stock has a 50-day moving average of $27.79 and a 200 day moving average of $31.63. Haverty Furniture Companies, Inc. has a twelve month low of $23.97 and a twelve month high of $37.05. The company has a market capitalization of $390.41 million, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.19). Haverty Furniture Companies had a net margin of 5.64% and a return on equity of 14.98%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $192.70 million. As a group, equities research analysts expect that Haverty Furniture Companies, Inc. will post 1.5 earnings per share for the current year.

Haverty Furniture Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, May 23rd. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 5.32%. Haverty Furniture Companies’s dividend payout ratio is 46.55%.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.