Donald Smith & CO. Inc. Has $18.36 Million Stock Position in Hooker Furnishings Co. (NASDAQ:HOFT)

Donald Smith & CO. Inc. cut its position in Hooker Furnishings Co. (NASDAQ:HOFT) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,015,724 shares of the company’s stock after selling 35,429 shares during the quarter. Donald Smith & CO. Inc. owned approximately 0.10% of Hooker Furnishings worth $18,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Copeland Capital Management LLC acquired a new stake in shares of Hooker Furnishings in the third quarter valued at about $37,000. Acadian Asset Management LLC boosted its stake in Hooker Furnishings by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after purchasing an additional 703 shares during the period. EntryPoint Capital LLC acquired a new stake in Hooker Furnishings in the 1st quarter valued at approximately $77,000. Virtus Investment Advisers Inc. bought a new position in Hooker Furnishings in the 1st quarter worth approximately $106,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Hooker Furnishings by 71.8% during the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after buying an additional 2,170 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock traded up $0.47 during midday trading on Wednesday, hitting $17.36. The company had a trading volume of 6,491 shares, compared to its average volume of 33,993. The stock has a market cap of $185.44 million, a PE ratio of 43.31 and a beta of 1.18. Hooker Furnishings Co. has a 1-year low of $13.09 and a 1-year high of $27.15. The business’s 50 day simple moving average is $16.50 and its two-hundred day simple moving average is $16.05.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The company had revenue of $95.08 million during the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, sell-side analysts expect that Hooker Furnishings Co. will post -0.25 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.23 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.30%. Hooker Furnishings’s dividend payout ratio is currently 235.90%.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.