Shares of Ethan Allen Interiors Inc. (NYSE:ETD – Get Rating) widened before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $23.33, but opened at $24.97. Shares of Ethan Allen Interiors last traded at $25.42, with volume traded at 6,566 shares. The newly announced dividend which will be paid on Tuesday August 30. Investors of record on Tuesday, August 16 will receive a dividend of $0.32 per share. The ex-dividend date is Monday, August 15. This represents an annualized dividend of $1.28 and a yield of 5.02%. Ethan Allen Interiors’ payout ratio is 36.36%.
Analyst upgrades and downgrades
A number of brokerages have weighed in on ETD recently. Telsey Advisory Group cut its price target on Ethan Allen Interiors from $26.00 to $25.00 and set a “market performance” rating on the stock in a research report on Monday. StockNews.com upgraded Ethan Allen Interiors from a “hold” rating to a “buy” rating in a Tuesday, May 17 research report.
Ethan Allen Interiors stock performance
The stock has a market capitalization of $646.17 million, a P/E ratio of 6.63 and a beta of 1.15. The stock has a 50-day moving average price of $21.91 and a 200-day moving average price of $24.10.
Institutional entries and exits
A number of institutional investors and hedge funds have recently changed their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in Ethan Allen Interiors shares by 2.0% in Q2. Cambridge Investment Research Advisors Inc. now owns 25,603 shares of the company valued at $517,000 after purchasing an additional 496 shares during the period. Rothschild Investment Corp IL increased its stake in shares of Ethan Allen Interiors by 1.7% in the 2nd quarter. Rothschild Investment Corp IL now owns 29,110 shares of the company valued at $588,000 after purchasing an additional 500 shares during the period. Hillsdale Investment Management Inc. bought a new position in Ethan Allen Interiors stock in Q1 worth approximately $33,000. The Alaska State Department of Revenue increased its stake in Ethan Allen Interiors stock by 8.8% in Q2. The Alaska State Department of Revenue now owns 16,661 shares of the company valued at $336,000 after purchasing an additional 1,350 shares during the period. Finally, Ziegler Capital Management LLC increased its stake in Ethan Allen Interiors by 2.9% during the second quarter. Ziegler Capital Management LLC now owns 50,028 shares of the company valued at $1,011,000 after purchasing an additional 1,414 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s shares.
Ethan Allen Interiors Company Profile
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Ethan Allen Interiors Inc operates as an interior design company and home furnishings manufacturer and retailer in the United States, Mexico, Honduras and Canada. The Company operates through two segments, Wholesale and Retail. Its products include storage items, such as beds, dressers, cabinets, tables, chairs, sideboards, entertainment units, home office furniture and wood accents; upholstery items including sleepers, recliners and other moveable furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather; and home accent items including window treatments and drapery hardware, wall hangings, flowers, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furniture.
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