California Public Employees Retirement System reduced its stake in Ethan Allen Interiors Inc. (NYSE:ETH) by 10.3% during the second quarter, Holdings Channel reports. The institutional investor owned 63,000 shares of the company’s stock after selling 7,200 shares during the period. California Public Employees Retirement System owned 0.23% of Ethan Allen Interiors worth $2,082,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Ethan Allen Interiors during the second quarter worth $119,000. Legal & General Group Plc boosted its stake in shares of Ethan Allen Interiors by 11.1% in the first quarter. Legal & General Group Plc now owns 4,200 shares of the company’s stock worth $133,000 after buying an additional 418 shares during the period. Riverhead Capital Management LLC bought a new stake in shares of Ethan Allen Interiors during the first quarter worth $147,000. Acrospire Investment Management LLC bought a new stake in shares of Ethan Allen Interiors during the first quarter worth $280,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Ethan Allen Interiors during the first quarter worth $282,000. Institutional investors and hedge funds own 98.85% of the company’s stock.
Shares of Ethan Allen Interiors Inc. (NYSE:ETH) traded up 0.97% on Wednesday, hitting $30.32. The stock had a trading volume of 67,641 shares. The stock has a 50 day moving average price of $33.10 and a 200-day moving average price of $32.94. The company has a market cap of $841.29 million, a price-to-earnings ratio of 15.16 and a beta of 1.60. Ethan Allen Interiors Inc. has a 12-month low of $22.46 and a 12-month high of $36.77.
Ethan Allen Interiors (NYSE:ETH) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Ethan Allen Interiors had a return on equity of 14.21% and a net margin of 7.13%. The business earned $205.70 million during the quarter, compared to analysts’ expectations of $200.28 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Ethan Allen Interiors Inc. will post $2.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, October 10th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.25%. Ethan Allen Interiors’s payout ratio is presently 34.00%.
ETH has been the subject of a number of analyst reports. Dougherty & Co upped their price objective on Ethan Allen Interiors from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Nomura reaffirmed a “hold” rating and set a $34.00 target price on shares of Ethan Allen Interiors in a research report on Friday, September 30th. Argus reaffirmed a “hold” rating on shares of Ethan Allen Interiors in a research report on Sunday, July 31st. Raymond James Financial Inc. lowered Ethan Allen Interiors from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Finally, Citigroup Inc. lowered Ethan Allen Interiors to a “market perform” rating in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $36.20.
In related news, Director Clinton A. Clark sold 3,357 shares of Ethan Allen Interiors stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $34.04, for a total value of $114,272.28. Following the completion of the transaction, the director now directly owns 3,679 shares in the company, valued at $125,233.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tara I. Stacom bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was bought at an average price of $33.31 per share, with a total value of $99,930.00. Following the completion of the acquisition, the director now owns 6,300 shares of the company’s stock, valued at approximately $209,853. The disclosure for this purchase can be found here. 11.90% of the stock is owned by insiders.
Ethan Allen Interiors Company Profile
Ethan Allen Interiors Inc (Ethan Allen) through its wholly owned subsidiary, Ethan Allen Global, Inc, is an interior design company. The Company is a manufacturer and retailer of home furnishings and accessories. The Company offers interior design service to its clients and sells a range of furniture products and decorative accents through ethanallen.com and a network of approximately 300 design centers in the United States.
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