Bassett Furniture Industries, Incorporated (NASDAQ:BSET) to Issue Quarterly Dividend of $0.20

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Thursday, July 16th. Investors of record on Friday, August 14th will be given a dividend of 0.20 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 14th.

Bassett Furniture Industries has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Bassett Furniture Industries has a payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bassett Furniture Industries to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 58.0%.

Bassett Furniture Industries Trading Up 0.4%

BSET stock opened at $21.78 on Friday. The stock’s 50 day simple moving average is $16.42 and its 200 day simple moving average is $15.61. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $22.26. The firm has a market cap of $188.61 million, a P/E ratio of 34.03, a P/E/G ratio of 1.52 and a beta of 0.76.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $83.32 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, research analysts forecast that Bassett Furniture Industries will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSET. Marquette Asset Management LLC acquired a new stake in Bassett Furniture Industries in the second quarter worth about $300,000. Empowered Funds LLC boosted its holdings in Bassett Furniture Industries by 9.2% during the first quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after buying an additional 3,532 shares in the last quarter. Renaissance Technologies LLC grew its position in Bassett Furniture Industries by 4.0% in the first quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after buying an additional 11,700 shares during the last quarter. Aegis Financial Corp grew its position in Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after buying an additional 25,878 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Bassett Furniture Industries in the fourth quarter valued at $465,000. 54.40% of the stock is owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.