Truist Financial Corp Reduces Position in Ethan Allen Interiors Inc. (NYSE:ETD)

Truist Financial Corp reduced its position in Ethan Allen Interiors Inc. (NYSE:ETD) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,892 shares of the company’s stock after selling 31,515 shares during the quarter. Truist Financial Corp owned 0.37% of Ethan Allen Interiors worth $2,591,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETD. Boston Partners purchased a new stake in shares of Ethan Allen Interiors in the first quarter worth approximately $1,147,000. Vanguard Group Inc. boosted its stake in shares of Ethan Allen Interiors by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,640,722 shares of the company’s stock valued at $56,720,000 after purchasing an additional 25,472 shares during the period. First Eagle Investment Management LLC bought a new position in shares of Ethan Allen Interiors in the first quarter worth about $2,354,000. Inspire Investing LLC purchased a new position in Ethan Allen Interiors in the 1st quarter worth about $742,000. Finally, Heartland Advisors Inc. bought a new stake in Ethan Allen Interiors during the 1st quarter valued at about $5,490,000. Institutional investors own 83.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $30.00 target price on shares of Ethan Allen Interiors in a research note on Wednesday, July 24th.

Ethan Allen Interiors Stock Down 1.3 %

ETD opened at $29.64 on Friday. The stock’s fifty day moving average is $30.84 and its two-hundred day moving average is $30.08. The company has a market capitalization of $753.21 million, a P/E ratio of 10.78 and a beta of 1.25. Ethan Allen Interiors Inc. has a 52 week low of $25.33 and a 52 week high of $35.62.

Ethan Allen Interiors (NYSE:ETD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.57 by $0.13. Ethan Allen Interiors had a return on equity of 13.45% and a net margin of 9.88%. The firm had revenue of $168.63 million for the quarter, compared to analyst estimates of $159.65 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. Equities analysts anticipate that Ethan Allen Interiors Inc. will post 2.4 earnings per share for the current year.

Ethan Allen Interiors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, August 13th were issued a $0.39 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.56 annualized dividend and a dividend yield of 5.26%. Ethan Allen Interiors’s dividend payout ratio is currently 56.73%.

Insider Activity

In related news, CEO M Farooq Kathwari sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $30.36, for a total value of $303,600.00. Following the completion of the transaction, the chief executive officer now owns 1,712,319 shares of the company’s stock, valued at $51,986,004.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 30,000 shares of company stock worth $931,500. Corporate insiders own 10.90% of the company’s stock.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.