Wells Fargo & Company MN continued to hold its stake in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,261 shares of the company’s stock at the end of the first quarter. Wells Fargo & Company MN owned about 0.09% of Bassett Furniture Industries, worth $249,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP increased its stake in shares of Bassett Furniture Industries, by 13.5% in the fourth quarter. Two Sigma Investments LP now owns 17,572 shares of the company’s stock worth $534,000 after buying an additional 2,087 shares during the last quarter. Punch & Associates Investment Management Inc. increased its position in Bassett Furniture Industries, by 96.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 57,000 shares of the company’s stock worth $1,533,000 after buying an additional 28,000 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Bassett Furniture Industries, during the fourth quarter worth about $449,000. State Street Corp increased its position in Bassett Furniture Industries, by 2.4% in the fourth quarter. State Street Corp now owns 164,343 shares of the company’s stock worth $4,993,000 after buying an additional 3,832 shares during the last quarter. Finally, Strs Ohio increased its position in Bassett Furniture Industries, by 9.4% in the first quarter. Strs Ohio now owns 24,400 shares of the company’s stock worth $656,000 after buying an additional 2,100 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries, Incorporated (BSET) opened at 38.20 on Friday. The company has a 50 day moving average of $34.26 and a 200-day moving average of $29.65. The stock has a market cap of $409.66 million, a P/E ratio of 23.00 and a beta of 1.11. Bassett Furniture Industries, Incorporated has a 12-month low of $22.42 and a 12-month high of $40.55.

Bassett Furniture Industries, (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Bassett Furniture Industries, had a net margin of 4.08% and a return on equity of 9.05%. The company had revenue of $114.10 million for the quarter, compared to the consensus estimate of $110.52 million. During the same quarter in the prior year, the company earned $0.31 EPS. Bassett Furniture Industries,’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Bassett Furniture Industries, Incorporated will post $1.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, August 9th. This is an increase from Bassett Furniture Industries,’s previous quarterly dividend of $0.10. Bassett Furniture Industries,’s dividend payout ratio is 24.10%.

WARNING: “Bassett Furniture Industries, Incorporated (BSET) Position Maintained by Wells Fargo & Company MN” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/07/21/bassett-furniture-industries-incorporated-bset-position-maintained-by-wells-fargo-company-mn.html.

BSET has been the topic of a number of research reports. Zacks Investment Research raised shares of Bassett Furniture Industries, from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, April 3rd. Stifel Nicolaus raised their price objective on shares of Bassett Furniture Industries, from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, June 30th.

In related news, CEO Robert H. Spilman, Jr. sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $40.16, for a total value of $200,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John E. Bassett III sold 3,102 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $40.00, for a total transaction of $124,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,635 shares of company stock worth $503,923. 6.40% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Bassett Furniture Industries, (NASDAQ:BSET)

Receive News & Stock Ratings for Bassett Furniture Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bassett Furniture Industries Incorporated and related stocks with our FREE daily email newsletter.