Hooker Furnishings Co. (NASDAQ:HOFT) Shares Sold by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. reduced its position in Hooker Furnishings Co. (NASDAQ:HOFT) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,051,153 shares of the company’s stock after selling 89,530 shares during the period. Donald Smith & CO. Inc. owned approximately 9.84% of Hooker Furnishings worth $15,221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HOFT. Azarias Capital Management L.P. boosted its holdings in shares of Hooker Furnishings by 23.8% in the second quarter. Azarias Capital Management L.P. now owns 624,415 shares of the company’s stock valued at $9,042,000 after acquiring an additional 120,219 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hooker Furnishings by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after buying an additional 31,261 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Hooker Furnishings by 747.5% in the first quarter. Los Angeles Capital Management LLC now owns 89,088 shares of the company’s stock valued at $2,139,000 after buying an additional 78,576 shares during the period. Acuitas Investments LLC bought a new position in Hooker Furnishings during the second quarter valued at about $1,180,000. Finally, Bank of New York Mellon Corp grew its holdings in Hooker Furnishings by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 78,249 shares of the company’s stock worth $1,133,000 after acquiring an additional 2,452 shares during the period. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Trading Up 4.0 %

Shares of NASDAQ HOFT opened at $16.32 on Monday. The firm has a 50-day moving average of $15.08 and a two-hundred day moving average of $17.42. The company has a market capitalization of $174.33 million, a price-to-earnings ratio of 41.85 and a beta of 1.18. Hooker Furnishings Co. has a twelve month low of $13.09 and a twelve month high of $27.15.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The business had revenue of $95.08 million during the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter last year, the firm posted $0.07 EPS. As a group, research analysts predict that Hooker Furnishings Co. will post -0.25 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.92 annualized dividend and a yield of 5.64%. Hooker Furnishings’s payout ratio is presently 235.90%.

Insider Buying and Selling at Hooker Furnishings

In other news, Director Tonya Harris Jackson purchased 1,850 shares of Hooker Furnishings stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average price of $13.61 per share, for a total transaction of $25,178.50. Following the transaction, the director now owns 25,229 shares in the company, valued at $343,366.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Hooker Furnishings Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.