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

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price shot up 9.8% on Thursday after the company announced a dividend. The company traded as high as $31.00 and last traded at $31.36. 68,889 shares were traded during trading, a decline of 65% from the average session 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. Stockholders of record on Tuesday, February 11th will be given a $0.39 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.03%. Ethan Allen Interiors’s payout ratio is presently 65.55%.

Wall Street Analysts Forecast Growth

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

Ethan Allen Interiors Stock Performance

The company has a fifty day simple moving average of $29.16 and a two-hundred day simple moving average of $29.87. The stock has a market capitalization of $788.58 million, a price-to-earnings ratio of 13.03 and a beta of 1.31.

Ethan Allen Interiors (NYSE:ETD) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ethan Allen Interiors had a net margin of 9.76% and a return on equity of 12.62%. As a group, equities analysts anticipate that Ethan Allen Interiors Inc. will post 2.3 earnings per share for the current year.

Insider Transactions at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 10,000 shares of Ethan Allen Interiors stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $28.67, for a total value of $286,700.00. Following the transaction, the chief executive officer now owns 1,651,905 shares in the company, valued at $47,360,116.35. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ethan Allen Interiors

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Ethan Allen Interiors in the 3rd quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ethan Allen Interiors during the third quarter worth about $50,000. nVerses Capital LLC acquired a new position in shares of Ethan Allen Interiors in the third quarter valued at approximately $92,000. Y Intercept Hong Kong Ltd bought a new position in Ethan Allen Interiors in the 3rd quarter valued at approximately $216,000. Finally, The Manufacturers Life Insurance Company boosted its position in Ethan Allen Interiors by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,737 shares of the company’s stock worth $244,000 after buying an additional 543 shares during the period. 83.80% of the stock is owned by institutional investors.

About Ethan Allen Interiors

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.