Bassett Furniture Industries Inc. (BSET) Trading Up 4.1% Following Dividend Announcement
Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) were up 4.1% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $25.33 and last traded at $24.98, with a volume of 106,185 shares traded. The stock had previously closed at $23.99.
The newly announced dividend which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.67%. Bassett Furniture Industries’s dividend payout ratio is currently 26.49%.
Separately, Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
The company has a market capitalization of $270.78 million, a price-to-earnings ratio of 16.60 and a beta of 1.03. The company’s 50 day moving average is $24.68 and its 200 day moving average is $27.33.
Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Thursday, September 29th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by $0.01. Bassett Furniture Industries had a net margin of 3.80% and a return on equity of 9.42%. The firm earned $104.70 million during the quarter. During the same quarter last year, the firm earned $0.40 earnings per share. The company’s revenue was down 5.7% compared to the same quarter last year. On average, analysts anticipate that Bassett Furniture Industries Inc. will post $1.45 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $136,000. Acrospire Investment Management LLC bought a new stake in shares of Bassett Furniture Industries during the first quarter worth about $273,000. Landscape Capital Management L.L.C. bought a new stake in shares of Bassett Furniture Industries during the second quarter worth about $218,000. Deere & Co. bought a new stake in shares of Bassett Furniture Industries during the second quarter worth about $237,000. Finally, Smith Asset Management Group LP increased its stake in shares of Bassett Furniture Industries by 69.8% in the second quarter. Smith Asset Management Group LP now owns 9,970 shares of the company’s stock worth $239,000 after buying an additional 4,100 shares in the last quarter. 71.64% of the stock is currently owned by institutional investors.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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