Punch & Associates Investment Management Inc. Acquires 4,432 Shares of Hooker Furniture Co. (NASDAQ:HOFT)

Punch & Associates Investment Management Inc. boosted its holdings in Hooker Furniture Co. (NASDAQ:HOFT) by 1.1% during the first quarter, HoldingsChannel.com reports. The firm owned 399,421 shares of the company’s stock after acquiring an additional 4,432 shares during the quarter. Hooker Furniture comprises about 1.0% of Punch & Associates Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Punch & Associates Investment Management Inc.’s holdings in Hooker Furniture were worth $11,515,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Hooker Furniture by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 8,794 shares of the company’s stock worth $232,000 after purchasing an additional 343 shares during the period. Legal & General Group Plc grew its holdings in Hooker Furniture by 24.4% in the fourth quarter. Legal & General Group Plc now owns 2,198 shares of the company’s stock worth $58,000 after purchasing an additional 431 shares during the period. AdvisorNet Financial Inc grew its holdings in Hooker Furniture by 26.0% in the fourth quarter. AdvisorNet Financial Inc now owns 2,368 shares of the company’s stock worth $62,000 after purchasing an additional 489 shares during the period. Citigroup Inc. lifted its stake in shares of Hooker Furniture by 16.1% in the fourth quarter. Citigroup Inc. now owns 3,701 shares of the company’s stock worth $97,000 after buying an additional 512 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hooker Furniture by 841.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,054 shares of the company’s stock worth $28,000 after buying an additional 942 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Several research analysts have recently issued reports on HOFT shares. BidaskClub upgraded shares of Hooker Furniture from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine downgraded shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, TheStreet upgraded shares of Hooker Furniture from a “c+” rating to a “b” rating in a research note on Tuesday, April 30th.

In related news, CEO Paul B. Toms, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average price of $27.98 per share, for a total transaction of $27,980.00. Following the completion of the transaction, the chief executive officer now directly owns 76,856 shares in the company, valued at $2,150,430.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry G. Williamson, Jr. acquired 8,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $28.13 per share, for a total transaction of $225,040.00. Following the transaction, the director now owns 38,941 shares of the company’s stock, valued at $1,095,410.33. The disclosure for this purchase can be found here. In the last quarter, insiders bought 14,000 shares of company stock worth $395,545. Insiders own 2.20% of the company’s stock.

Shares of NASDAQ HOFT traded down $0.70 during midday trading on Friday, hitting $20.15. The stock had a trading volume of 831 shares, compared to its average volume of 77,598. The company has a market cap of $242.67 million, a PE ratio of 6.93 and a beta of 0.64. Hooker Furniture Co. has a 52 week low of $20.25 and a 52 week high of $49.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 3.65.

Hooker Furniture (NASDAQ:HOFT) last issued its earnings results on Wednesday, June 12th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $135.52 million during the quarter. Hooker Furniture had a return on equity of 13.77% and a net margin of 5.13%.

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Monday, June 17th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.98%.

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About Hooker Furniture

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture in the United States. The company operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

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Institutional Ownership by Quarter for Hooker Furniture (NASDAQ:HOFT)

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