Connor Clark & Lunn Investment Management Ltd. Sells 2,610 Shares of Ethan Allen Interiors Inc. $ETD

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Ethan Allen Interiors Inc. (NYSE:ETD) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,268 shares of the company’s stock after selling 2,610 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of Ethan Allen Interiors worth $1,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Ethan Allen Interiors by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,680,620 shares of the company’s stock valued at $46,553,000 after buying an additional 13,822 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ethan Allen Interiors by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 902,260 shares of the company’s stock valued at $24,993,000 after acquiring an additional 64,565 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Ethan Allen Interiors by 9.2% during the first quarter. American Century Companies Inc. now owns 792,940 shares of the company’s stock valued at $21,964,000 after acquiring an additional 66,727 shares in the last quarter. LSV Asset Management raised its position in shares of Ethan Allen Interiors by 9.7% during the first quarter. LSV Asset Management now owns 585,200 shares of the company’s stock worth $16,210,000 after purchasing an additional 51,700 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Ethan Allen Interiors by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 416,033 shares of the company’s stock worth $11,587,000 after purchasing an additional 8,311 shares in the last quarter. Institutional investors own 83.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ETD shares. Weiss Ratings restated a “hold (c)” rating on shares of Ethan Allen Interiors in a research note on Friday, October 31st. Zacks Research downgraded shares of Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 30th. Finally, Telsey Advisory Group dropped 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 research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $28.00.

Ethan Allen Interiors Stock Down 0.7%

Shares of NYSE ETD opened at $22.52 on Monday. Ethan Allen Interiors Inc. has a 52-week low of $22.39 and a 52-week high of $32.61. The business’s 50 day moving average is $27.28 and its two-hundred day moving average is $27.98. The firm has a market cap of $572.94 million, a price-to-earnings ratio of 12.17 and a beta of 1.18.

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 the consensus estimate of $0.44 by ($0.01). Ethan Allen Interiors had a return on equity of 10.06% and a net margin of 7.79%.The business had revenue of $146.98 million for the quarter, compared to analyst estimates of $149.15 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts anticipate that Ethan Allen Interiors Inc. will post 2.32 EPS for the current fiscal year.

Ethan Allen Interiors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 6.9%. The ex-dividend date is Wednesday, November 12th. Ethan Allen Interiors’s payout ratio is 84.32%.

Insider Activity at Ethan Allen Interiors

In other news, CEO M Farooq Kathwari sold 15,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were 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 in the company, valued at approximately $44,358,092.52. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 31,400 shares of company stock valued at $900,866. Corporate insiders own 9.92% of the company’s stock.

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.