Bank of New York Mellon Corp Purchases 8,311 Shares of Ethan Allen Interiors Inc. $ETD

Bank of New York Mellon Corp boosted its position in Ethan Allen Interiors Inc. (NYSE:ETD) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 416,033 shares of the company’s stock after acquiring an additional 8,311 shares during the period. Bank of New York Mellon Corp’s holdings in Ethan Allen Interiors were worth $11,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ETD. New York State Common Retirement Fund raised its stake in shares of Ethan Allen Interiors by 56.9% during the first quarter. New York State Common Retirement Fund now owns 30,593 shares of the company’s stock valued at $847,000 after acquiring an additional 11,100 shares during the last quarter. IFP Advisors Inc increased its holdings in Ethan Allen Interiors by 12,857.1% during the 1st quarter. IFP Advisors Inc now owns 907 shares of the company’s stock valued at $25,000 after purchasing an additional 900 shares during the period. Allianz Asset Management GmbH bought a new position in Ethan Allen Interiors during the 1st quarter valued at approximately $205,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Ethan Allen Interiors by 3.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 90,885 shares of the company’s stock worth $2,518,000 after buying an additional 2,658 shares during the period. Finally, Unison Advisors LLC grew its position in shares of Ethan Allen Interiors by 1.4% in the 1st quarter. Unison Advisors LLC now owns 30,872 shares of the company’s stock worth $855,000 after buying an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Insider Buying and Selling

In other news, CEO M Farooq Kathwari sold 15,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.01, for a total value of $420,150.00. Following the sale, the chief executive officer directly owned 1,583,652 shares of the company’s stock, valued at approximately $44,358,092.52. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 31,400 shares of company stock valued at $900,866 over the last 90 days. Insiders own 9.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETD. Weiss Ratings reissued a “hold (c)” rating on shares of Ethan Allen Interiors in a research note on Friday, October 31st. Telsey Advisory Group cut their price target on shares of Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research lowered shares of Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Ethan Allen Interiors Trading Up 0.6%

Shares of Ethan Allen Interiors stock opened at $22.01 on Wednesday. Ethan Allen Interiors Inc. has a 12 month low of $21.67 and a 12 month high of $32.61. The firm has a market capitalization of $559.99 million, a P/E ratio of 11.90 and a beta of 1.18. The business has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $27.88.

Ethan Allen Interiors (NYSE:ETD) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Ethan Allen Interiors had a net margin of 7.79% and a return on equity of 10.06%. The business had revenue of $146.98 million for the quarter, compared to analysts’ expectations of $149.15 million. During the same period last year, the business earned $0.58 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. Analysts predict that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current year.

Ethan Allen Interiors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Ethan Allen Interiors’s dividend payout ratio (DPR) is 84.32%.

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.