Ethan Allen Interiors (NYSE:ETD) Trading Up 9.8% After Dividend Announcement

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price rose 9.8% during trading on Thursday after the company announced a dividend. The stock traded as high as $31.00 and last traded at $31.36. Approximately 68,889 shares traded hands during trading, a decline of 65% from the average daily volume of 195,140 shares. The stock had previously closed at $28.57.

The newly announced dividend which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Tuesday, February 11th. Ethan Allen Interiors’s dividend payout ratio is presently 65.55%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ETD shares. Argus reaffirmed a “hold” rating on shares of Ethan Allen Interiors in a research note on Monday, January 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $32.00 target price on shares of Ethan Allen Interiors in a research note on Thursday.

Ethan Allen Interiors Stock Down 2.2 %

The stock has a market capitalization of $788.58 million, a P/E ratio of 13.03 and a beta of 1.31. The company has a fifty day simple moving average of $29.16 and a two-hundred day simple moving average of $29.87.

Ethan Allen Interiors (NYSE:ETD) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ethan Allen Interiors had a net margin of 9.76% and a return on equity of 12.62%. As a group, equities analysts forecast that Ethan Allen Interiors Inc. will post 2.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO M Farooq Kathwari sold 10,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $28.67, for a total value of $286,700.00. Following the sale, the chief executive officer now owns 1,651,905 shares of the company’s stock, valued at $47,360,116.35. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 10.48% of the company’s stock.

Institutional Investors Weigh In On Ethan Allen Interiors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETD. Hodges Capital Management Inc. increased its holdings in Ethan Allen Interiors by 17.9% during the fourth quarter. Hodges Capital Management Inc. now owns 646,084 shares of the company’s stock worth $18,162,000 after buying an additional 98,227 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Ethan Allen Interiors by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 538,595 shares of the company’s stock worth $17,179,000 after purchasing an additional 3,310 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Ethan Allen Interiors by 679.5% during the 3rd quarter. Jane Street Group LLC now owns 266,161 shares of the company’s stock worth $8,488,000 after purchasing an additional 232,015 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ethan Allen Interiors by 2,127.1% in the 2nd quarter. Millennium Management LLC now owns 157,480 shares of the company’s stock valued at $4,392,000 after purchasing an additional 150,409 shares during the period. Finally, First Dallas Securities Inc. lifted its stake in Ethan Allen Interiors by 3.4% in the 4th quarter. First Dallas Securities Inc. now owns 121,285 shares of the company’s stock valued at $3,409,000 after purchasing an additional 4,003 shares during the last quarter. 83.80% of the stock is currently owned by institutional investors and hedge funds.

About Ethan Allen Interiors

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.