Bassett Furniture Industries Inc. (NASDAQ:BSET) shares reached a new 52-week low during trading on Friday . The stock traded as low as $17.78 and last traded at $17.80, with a volume of 67590 shares traded. The stock had previously closed at $18.44.
BSET has been the subject of several recent research reports. ValuEngine upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Zacks Investment Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.00.
The stock has a market capitalization of $193.99 million, a P/E ratio of 18.35 and a beta of 0.64.
Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Thursday, January 17th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.19). The company had revenue of $116.65 million during the quarter, compared to analysts’ expectations of $118.84 million. Bassett Furniture Industries had a return on equity of 5.42% and a net margin of 1.80%. On average, equities analysts predict that Bassett Furniture Industries Inc. will post 0.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.125 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.50 annualized dividend and a yield of 2.81%. Bassett Furniture Industries’s dividend payout ratio is currently 51.55%.
In other Bassett Furniture Industries news, SVP Mark S. Jordan sold 3,100 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $19.03, for a total value of $58,993.00. Following the completion of the sale, the senior vice president now owns 17,020 shares of the company’s stock, valued at $323,890.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BSET. First Trust Advisors LP lifted its stake in Bassett Furniture Industries by 33.8% in the third quarter. First Trust Advisors LP now owns 15,328 shares of the company’s stock worth $326,000 after purchasing an additional 3,872 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Bassett Furniture Industries by 789.0% during the third quarter. Meeder Asset Management Inc. now owns 6,721 shares of the company’s stock valued at $143,000 after acquiring an additional 5,965 shares in the last quarter. BlackRock Inc. raised its stake 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 acquiring an additional 16,194 shares in the last quarter. Walthausen & Co. LLC bought a new stake in shares of Bassett Furniture Industries during the third quarter valued at approximately $3,392,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bassett Furniture Industries by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 903,484 shares of the company’s stock valued at $19,199,000 after acquiring an additional 9,283 shares in the last quarter. 70.30% of the stock is owned by institutional investors and hedge funds.
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About Bassett Furniture Industries (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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