Bassett Furniture Industries Inc. (NASDAQ:BSET)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.78 and last traded at $17.80, with a volume of 67590 shares. The stock had previously closed at $18.44.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research lowered shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.00.
The firm has a market capitalization of $193.99 million, a PE ratio of 18.35 and a beta of 0.64.
Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, January 17th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.19). The company had revenue of $116.65 million for the quarter, compared to analysts’ expectations of $118.84 million. Bassett Furniture Industries had a net margin of 1.80% and a return on equity of 5.42%. As a group, equities research analysts forecast that Bassett Furniture Industries Inc. will post 0.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 16th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 51.55%.
In other news, SVP Mark S. Jordan sold 3,100 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $19.03, for a total transaction of $58,993.00. Following the sale, the senior vice president now directly owns 17,020 shares of the company’s stock, valued at $323,890.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.54% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Bassett Furniture Industries by 2.2% during the third quarter. BlackRock Inc. now owns 754,372 shares of the company’s stock valued at $16,030,000 after buying an additional 16,194 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Bassett Furniture Industries by 1.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 881,650 shares of the company’s stock valued at $17,668,000 after purchasing an additional 9,276 shares during the period. Teachers Advisors LLC lifted its position in Bassett Furniture Industries by 7.9% during the third quarter. Teachers Advisors LLC now owns 20,933 shares of the company’s stock valued at $445,000 after purchasing an additional 1,533 shares during the period. North Star Investment Management Corp. lifted its position in Bassett Furniture Industries by 54.8% during the fourth quarter. North Star Investment Management Corp. now owns 65,025 shares of the company’s stock valued at $1,303,000 after purchasing an additional 23,025 shares during the period. Finally, Bridgeway Capital Management Inc. lifted its position in Bassett Furniture Industries by 5.5% during the third quarter. Bridgeway Capital Management Inc. now owns 140,803 shares of the company’s stock valued at $2,992,000 after purchasing an additional 7,344 shares during the period. 70.30% of the stock is currently owned by hedge funds and other institutional investors.
Bassett Furniture Industries Company Profile (NASDAQ:BSET)
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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