Bank of New York Mellon Corp Trims Stock Position in Ethan Allen Interiors Inc. (NYSE:ETD)

Bank of New York Mellon Corp cut its stake in shares of Ethan Allen Interiors Inc. (NYSE:ETD) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 407,722 shares of the company’s stock after selling 13,874 shares during the period. Bank of New York Mellon Corp owned approximately 1.60% of Ethan Allen Interiors worth $11,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ethan Allen Interiors by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,006 shares of the company’s stock valued at $366,000 after acquiring an additional 448 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in Ethan Allen Interiors by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 28,914 shares of the company’s stock valued at $801,000 after acquiring an additional 463 shares during the last quarter. Gotham Asset Management LLC raised its stake in Ethan Allen Interiors by 5.8% during the 4th quarter. Gotham Asset Management LLC now owns 10,237 shares of the company’s stock valued at $288,000 after acquiring an additional 561 shares during the last quarter. Unison Advisors LLC raised its stake in shares of Ethan Allen Interiors by 2.6% during the 4th quarter. Unison Advisors LLC now owns 30,458 shares of the company’s stock worth $856,000 after buying an additional 781 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Ethan Allen Interiors by 4.3% during the 4th quarter. Comerica Bank now owns 20,927 shares of the company’s stock worth $588,000 after buying an additional 858 shares in the last quarter. 83.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO M Farooq Kathwari sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $26.85, for a total value of $268,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,611,905 shares of the company’s stock, valued at $43,279,649.25. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 11,366 shares of company stock valued at $305,390. Company insiders own 10.48% of the company’s stock.

Analyst Ratings Changes

Separately, Telsey Advisory Group reissued a “market perform” rating on shares of Ethan Allen Interiors in a research note on Tuesday, May 6th.

Ethan Allen Interiors Trading Down 0.7%

Shares of ETD stock opened at $28.98 on Monday. The company has a market cap of $736.96 million, a price-to-earnings ratio of 12.88 and a beta of 1.16. The stock has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $27.88. Ethan Allen Interiors Inc. has a 12-month low of $24.55 and a 12-month high of $35.62.

Ethan Allen Interiors (NYSE:ETD) last issued its earnings results on Monday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $146.85 million. Ethan Allen Interiors had a return on equity of 12.08% and a net margin of 9.29%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. On average, equities analysts forecast that Ethan Allen Interiors Inc. will post 2.32 earnings per share for the current fiscal year.

Ethan Allen Interiors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend was Thursday, May 15th. Ethan Allen Interiors’s payout ratio is currently 69.33%.

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.