Truist Financial Corp Cuts Holdings in Ethan Allen Interiors Inc. (NYSE:ETD)

Truist Financial Corp lowered its stake in shares of Ethan Allen Interiors Inc. (NYSE:ETD) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,236 shares of the company’s stock after selling 28,895 shares during the quarter. Truist Financial Corp owned 0.52% of Ethan Allen Interiors worth $4,189,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Ethan Allen Interiors by 171.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,563 shares of the company’s stock worth $136,000 after acquiring an additional 2,884 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Ethan Allen Interiors in the third quarter worth $203,000. Arizona State Retirement System bought a new stake in Ethan Allen Interiors during the 4th quarter valued at $204,000. Evergreen Capital Management LLC purchased a new stake in Ethan Allen Interiors during the 3rd quarter valued at $213,000. Finally, Vest Financial LLC bought a new stake in Ethan Allen Interiors in the 4th quarter worth $242,000. 83.80% of the stock is owned by institutional investors.

Ethan Allen Interiors Stock Performance

ETD opened at $29.36 on Tuesday. The stock has a market capitalization of $745.97 million, a PE ratio of 10.67 and a beta of 1.25. The stock’s 50 day moving average price is $32.19 and its 200-day moving average price is $30.31. Ethan Allen Interiors Inc. has a 52-week low of $24.76 and a 52-week high of $36.19.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings data 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). Ethan Allen Interiors had a net margin of 10.63% and a return on equity of 14.93%. The company had revenue of $146.42 million for the quarter, compared to analysts’ expectations of $168.15 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was down 21.4% compared to the same quarter last year. Research analysts forecast that Ethan Allen Interiors Inc. will post 2.32 EPS for the current fiscal year.

Ethan Allen Interiors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.39 per share. This is an increase from Ethan Allen Interiors’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, May 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.31%. Ethan Allen Interiors’s dividend payout ratio is 56.73%.

Analysts Set New Price Targets

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

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.