SummerHaven Investment Management LLC Increases Stock Position in Ethan Allen Interiors Inc. (NYSE:ETD)

SummerHaven Investment Management LLC raised its position in Ethan Allen Interiors Inc. (NYSE:ETD) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,882 shares of the company’s stock after buying an additional 347 shares during the period. SummerHaven Investment Management LLC owned about 0.10% of Ethan Allen Interiors worth $794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Ethan Allen Interiors by 171.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,563 shares of the company’s stock worth $136,000 after buying an additional 2,884 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in Ethan Allen Interiors during the third quarter worth $203,000. Arizona State Retirement System purchased a new position in Ethan Allen Interiors during the fourth quarter valued at $204,000. Evergreen Capital Management LLC acquired a new stake in shares of Ethan Allen Interiors in the third quarter valued at about $213,000. Finally, Vest Financial LLC acquired a new stake in shares of Ethan Allen Interiors in the fourth quarter valued at about $242,000. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $30.00 price target on shares of Ethan Allen Interiors in a research note on Thursday, April 25th.

Ethan Allen Interiors Stock Performance

Shares of ETD opened at $28.90 on Tuesday. The stock has a 50 day moving average price of $32.44 and a 200 day moving average price of $30.31. Ethan Allen Interiors Inc. has a one year low of $24.76 and a one year high of $36.19. The stock has a market capitalization of $734.35 million, a price-to-earnings ratio of 10.51 and a beta of 1.22.

Ethan Allen Interiors (NYSE:ETD) last released its earnings results on Wednesday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). The business had revenue of $146.42 million for the quarter, compared to analysts’ expectations of $168.15 million. Ethan Allen Interiors had a return on equity of 14.93% and a net margin of 10.63%. Ethan Allen Interiors’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. On average, analysts predict that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current year.

Ethan Allen Interiors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Tuesday, May 7th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.40%. The ex-dividend date is Monday, May 6th. This is a boost from Ethan Allen Interiors’s previous quarterly dividend of $0.36. Ethan Allen Interiors’s dividend payout ratio is currently 52.36%.

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.