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

Ethan Allen Interiors Inc. (NYSE:ETD) shares were up 9.8% on Thursday following a dividend announcement from the company. The stock traded as high as $31.00 and last traded at $31.36. Approximately 68,889 shares were traded 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. Investors of record on Tuesday, February 11th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Tuesday, February 11th. Ethan Allen Interiors’s dividend payout ratio (DPR) is currently 65.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus restated a “hold” rating on shares of Ethan Allen Interiors in a research report on Monday, January 13th. Telsey Advisory Group restated a “market perform” rating and set a $32.00 price target on shares of Ethan Allen Interiors in a research report on Thursday.

Ethan Allen Interiors Stock Performance

The firm has a market cap of $788.58 million, a price-to-earnings ratio of 13.03 and a beta of 1.31. The company’s 50-day moving average is $29.16 and its 200-day moving average is $29.87.

Ethan Allen Interiors (NYSE:ETD) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.59 EPS 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%. On average, analysts predict that Ethan Allen Interiors Inc. will post 2.3 EPS for the current year.

Insider Buying and Selling at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,651,905 shares in the company, valued at $47,360,116.35. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.48% of the company’s stock.

Institutional Trading of Ethan Allen Interiors

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC raised its position in shares of Ethan Allen Interiors by 2.4% in the 4th quarter. Sanctuary Advisors LLC now owns 14,831 shares of the company’s stock valued at $417,000 after acquiring an additional 342 shares during the period. Unison Advisors LLC increased its stake in Ethan Allen Interiors by 1.4% in the third quarter. Unison Advisors LLC now owns 29,677 shares of the company’s stock valued at $946,000 after purchasing an additional 421 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ethan Allen Interiors by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,737 shares of the company’s stock worth $244,000 after purchasing an additional 543 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Ethan Allen Interiors by 6.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 10,218 shares of the company’s stock worth $287,000 after purchasing an additional 650 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Ethan Allen Interiors by 3.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 33,015 shares of the company’s stock valued at $1,053,000 after buying an additional 1,065 shares during the period. Institutional investors and hedge funds own 83.80% of the company’s stock.

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.