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Haverty Rawson Jr., a director and ten percent owner of Haverty Furniture Companies Inc . (NYSE:HVT), executed significant stock sales recently, according to a filing with the Securities and Exchange Commission. The furniture retailer, currently valued at $359 million, has maintained an impressive track record of 51 consecutive years of dividend payments, now yielding 5.77%. On March 7, Rawson sold 16,000 shares of common stock, with prices ranging from $22.00 to $22.11, resulting in a total transaction value of approximately $352,640. Subsequently, on March 10, he sold an additional 10,000 shares at prices between $22.00 and $22.03, totaling around $220,010. These transactions were conducted indirectly through H5-JRH, LLC. Following these sales, Rawson’s indirect holdings under H5-JRH, LLC were reported as zero. The stock is currently trading near its 52-week low of $21.04, and InvestingPro analysis suggests the company is slightly undervalued, with 8 additional key insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, Haverty Furniture Companies Inc. reported its fourth quarter 2024 financial results, which exceeded earnings expectations with an EPS of $0.49, more than double the forecast of $0.23. However, the company experienced a slight revenue miss, reporting $184.4 million against an expected $185.39 million. Despite the revenue shortfall, Havertys maintained strong gross margins of 61.9% for the quarter and ended the year with $120 million in cash and no funded debt. In executive news, Havertys announced the appointment of Brendan McGill as Senior Vice President, General Counsel, effective April 1, 2025. McGill will replace Janet E. Taylor, who is retiring after a notable 20-year tenure with the company. This leadership change is part of Havertys’ strategy to support its growth and maintain its market position. Additionally, the company plans to expand its store count and improve operational efficiencies in 2025. Havertys also remains focused on navigating potential challenges such as tariffs and high mortgage rates, which could impact costs and demand.
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