Arrowstreet Capital Limited Partnership Boosts Stake in Haverty Furniture Companies, Inc. $HVT

Arrowstreet Capital Limited Partnership increased its position in Haverty Furniture Companies, Inc. (NYSE:HVT) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,889 shares of the company’s stock after acquiring an additional 24,945 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Haverty Furniture Companies were worth $6,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in HVT. Pzena Investment Management LLC grew its position in Haverty Furniture Companies by 61.5% during the second quarter. Pzena Investment Management LLC now owns 1,560,557 shares of the company’s stock valued at $31,757,000 after buying an additional 594,476 shares during the period. Hsbc Holdings PLC grew its stake in Haverty Furniture Companies by 64.7% during the 1st quarter. Hsbc Holdings PLC now owns 38,692 shares of the company’s stock valued at $762,000 after acquiring an additional 15,198 shares in the last quarter. Truist Financial Corp purchased a new position in Haverty Furniture Companies during the second quarter worth approximately $204,000. Charles Schwab Investment Management Inc. increased its position in Haverty Furniture Companies by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 180,417 shares of the company’s stock worth $3,558,000 after purchasing an additional 10,944 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Haverty Furniture Companies by 1,929.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company’s stock valued at $30,000 after acquiring an additional 1,447 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HVT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Monday. Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 9th. Finally, Zacks Research upgraded Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 4,523 shares of Haverty Furniture Companies stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $22.42, for a total transaction of $101,405.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 29,523 shares of company stock worth $677,706 in the last ninety days. Corporate insiders own 8.63% of the company’s stock.

Haverty Furniture Companies Trading Up 3.3%

HVT stock opened at $24.49 on Thursday. The company’s 50-day moving average price is $22.07 and its 200 day moving average price is $21.79. The company has a market cap of $398.50 million, a P/E ratio of 21.49, a P/E/G ratio of 1.70 and a beta of 1.27. Haverty Furniture Companies, Inc. has a 52 week low of $17.01 and a 52 week high of $24.89.

Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The company had revenue of $194.48 million for the quarter, compared to analyst estimates of $183.12 million. On average, equities research analysts expect that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current year.

Haverty Furniture Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 25th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, November 25th. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s dividend payout ratio is presently 115.79%.

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.