Haverty Furniture Companies, Inc. Declares Quarterly Dividend of $0.33 (NYSE:HVT)

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Friday, May 15th. Investors of record on Monday, June 1st will be paid a dividend of 0.33 per share on Tuesday, June 16th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, June 1st.

Haverty Furniture Companies has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Haverty Furniture Companies has a dividend payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Haverty Furniture Companies to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 51.0%.

Haverty Furniture Companies Price Performance

Shares of NYSE:HVT opened at $23.31 on Friday. Haverty Furniture Companies has a 1 year low of $19.32 and a 1 year high of $27.67. The company has a market cap of $374.98 million, a PE ratio of 19.42, a P/E/G ratio of 1.23 and a beta of 1.20. The stock’s 50-day moving average is $21.92 and its 200 day moving average is $23.56.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%.The company had revenue of $189.05 million for the quarter, compared to the consensus estimate of $191.99 million. Analysts expect that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $31,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Haverty Furniture Companies by 57.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after acquiring an additional 625 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Haverty Furniture Companies during the 4th quarter worth approximately $45,000. Fifth Third Bancorp purchased a new position in shares of Haverty Furniture Companies during the 1st quarter worth approximately $49,000. Finally, State of Wyoming purchased a new position in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.