Ethan Allen Interiors (NYSE:ETD) Trading Down 1.3% – Here’s Why

Shares of Ethan Allen Interiors Inc. (NYSE:ETD) traded down 1.3% on Tuesday . The stock traded as low as $22.92 and last traded at $23.0030. 429,183 shares traded hands during mid-day trading, an increase of 52% from the average session volume of 282,984 shares. The stock had previously closed at $23.31.

Wall Street Analyst Weigh In

ETD has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ethan Allen Interiors in a research note on Monday. Telsey Advisory Group cut their price target on shares of Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $28.00.

Ethan Allen Interiors Stock Down 1.3%

The firm’s fifty day moving average is $24.49 and its two-hundred day moving average is $27.39. The firm has a market cap of $585.43 million, a P/E ratio of 12.43 and a beta of 1.17.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $146.98 million during the quarter, compared to the consensus estimate of $149.15 million. Ethan Allen Interiors had a return on equity of 10.08% and a net margin of 7.79%.The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Ethan Allen Interiors Inc. will post 2.32 EPS for the current year.

Ethan Allen Interiors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.8%. Ethan Allen Interiors’s dividend payout ratio is 84.32%.

Insider Activity

In other news, CEO M Farooq Kathwari sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $28.01, for a total value of $420,150.00. Following the completion of the transaction, the chief executive officer owned 1,583,652 shares in the company, valued at $44,358,092.52. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Ethan Allen Interiors

A number of institutional investors have recently added to or reduced their stakes in ETD. Vanguard Group Inc. lifted its position in Ethan Allen Interiors by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,760,093 shares of the company’s stock valued at $51,852,000 after buying an additional 32,751 shares during the period. American Century Companies Inc. increased its stake in shares of Ethan Allen Interiors by 4.4% in the 3rd quarter. American Century Companies Inc. now owns 874,727 shares of the company’s stock worth $25,769,000 after acquiring an additional 36,756 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Ethan Allen Interiors by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 548,021 shares of the company’s stock worth $15,263,000 after acquiring an additional 6,729 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ethan Allen Interiors by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 416,033 shares of the company’s stock valued at $11,587,000 after acquiring an additional 8,311 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Ethan Allen Interiors by 42.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 391,769 shares of the company’s stock worth $11,542,000 after acquiring an additional 117,047 shares in the last quarter. Institutional investors own 83.80% of the company’s stock.

About Ethan Allen Interiors

Ethan Allen Interiors Inc (NYSE: ETD) is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.