Bassett Furniture Industries, Incorporated (BSET) Position Lifted by Algert Global LLC
Algert Global LLC increased its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 222.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,819 shares of the company’s stock after acquiring an additional 62,618 shares during the period. Bassett Furniture Industries makes up approximately 0.8% of Algert Global LLC’s portfolio, making the stock its 7th biggest holding. Algert Global LLC owned 0.85% of Bassett Furniture Industries worth $3,424,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Acrospire Investment Management LLC grew its holdings in Bassett Furniture Industries by 57.5% in the second quarter. Acrospire Investment Management LLC now owns 3,108 shares of the company’s stock valued at $118,000 after purchasing an additional 1,135 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Bassett Furniture Industries by 441.6% in the third quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock valued at $178,000 after purchasing an additional 3,767 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Bassett Furniture Industries in the second quarter valued at $206,000. Bank of America Corp DE grew its holdings in Bassett Furniture Industries by 183.8% in the first quarter. Bank of America Corp DE now owns 8,311 shares of the company’s stock valued at $224,000 after purchasing an additional 5,383 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Bassett Furniture Industries in the second quarter valued at $224,000. 71.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Jay R. Hervey sold 650 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $39.19, for a total transaction of $25,473.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bruce Cohenour sold 9,900 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.50, for a total value of $381,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,550 shares of company stock worth $487,124. Corporate insiders own 6.40% of the company’s stock.
Shares of Bassett Furniture Industries, Incorporated (NASDAQ BSET) opened at $35.80 on Thursday. The firm has a market capitalization of $387.01, a price-to-earnings ratio of 22.67 and a beta of 1.04. Bassett Furniture Industries, Incorporated has a twelve month low of $24.90 and a twelve month high of $41.30.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $114.30 million for the quarter, compared to analyst estimates of $110.65 million. Bassett Furniture Industries had a return on equity of 9.17% and a net margin of 4.09%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share. research analysts anticipate that Bassett Furniture Industries, Incorporated will post 1.76 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a dividend yield of 1.17%. This is a positive change from Bassett Furniture Industries’s previous special dividend of $0.30. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 25.73%.
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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