Charles Schwab Investment Management Inc. Trims Stake in Haverty Furniture Companies, Inc. (NYSE:HVT)

Charles Schwab Investment Management Inc. cut its stake in Haverty Furniture Companies, Inc. (NYSE:HVT) by 24.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,473 shares of the company’s stock after selling 55,263 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Haverty Furniture Companies were worth $3,772,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Haverty Furniture Companies in the 3rd quarter worth approximately $185,000. DRW Securities LLC bought a new position in Haverty Furniture Companies in the third quarter worth $296,000. BNP Paribas Financial Markets lifted its position in Haverty Furniture Companies by 643.1% during the third quarter. BNP Paribas Financial Markets now owns 21,482 shares of the company’s stock valued at $590,000 after buying an additional 18,591 shares during the period. Verition Fund Management LLC purchased a new position in Haverty Furniture Companies during the third quarter valued at $3,886,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Haverty Furniture Companies during the 3rd quarter valued at $406,000. 80.57% of the stock is owned by institutional investors.

Haverty Furniture Companies Stock Performance

HVT stock opened at $20.12 on Thursday. The firm has a market capitalization of $325.84 million, a price-to-earnings ratio of 12.65, a PEG ratio of 1.15 and a beta of 1.44. The firm has a 50 day moving average price of $22.00 and a 200-day moving average price of $23.28. Haverty Furniture Companies, Inc. has a 52-week low of $19.90 and a 52-week high of $34.29.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.30. Haverty Furniture Companies had a return on equity of 8.69% and a net margin of 3.57%. The business had revenue of $184.35 million during the quarter, compared to analysts’ expectations of $179.84 million. As a group, sell-side analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, March 6th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Thursday, March 6th. Haverty Furniture Companies’s dividend payout ratio (DPR) is 109.40%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th.

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.