BidaskClub cut shares of Bassett Furniture Industries (NASDAQ:BSET) from a sell rating to a strong sell rating in a research report sent to investors on Friday, August 31st.

Several other equities research analysts also recently weighed in on the stock. Sidoti raised shares of Bassett Furniture Industries from a neutral rating to a buy rating in a research report on Thursday, May 10th. Zacks Investment Research raised shares of Bassett Furniture Industries from a strong sell rating to a hold rating in a research report on Wednesday, May 30th. Finally, ValuEngine downgraded shares of Bassett Furniture Industries from a hold rating to a sell rating in a research report on Friday, May 4th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. Bassett Furniture Industries presently has an average rating of Hold and an average price target of $39.00.

Bassett Furniture Industries stock traded up $1.05 during mid-day trading on Friday, hitting $22.30. The company had a trading volume of 26,074 shares, compared to its average volume of 34,049. Bassett Furniture Industries has a 12 month low of $21.03 and a 12 month high of $41.30. The company has a market capitalization of $226.53 million, a price-to-earnings ratio of 14.97 and a beta of 0.78.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Thursday, June 28th. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $116.00 million for the quarter, compared to the consensus estimate of $112.86 million. Bassett Furniture Industries had a return on equity of 7.93% and a net margin of 2.82%. During the same period in the previous year, the company posted $0.54 earnings per share. equities analysts expect that Bassett Furniture Industries will post 1.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 9th. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.11. Bassett Furniture Industries’s dividend payout ratio is currently 31.65%.

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of Bassett Furniture Industries by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 120,774 shares of the company’s stock valued at $3,327,000 after buying an additional 11,911 shares during the last quarter. Millennium Management LLC lifted its holdings in Bassett Furniture Industries by 87.1% in the second quarter. Millennium Management LLC now owns 77,851 shares of the company’s stock valued at $2,145,000 after acquiring an additional 36,240 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Bassett Furniture Industries in the second quarter valued at approximately $446,000. Macquarie Group Ltd. lifted its holdings in Bassett Furniture Industries by 135.1% in the second quarter. Macquarie Group Ltd. now owns 10,964 shares of the company’s stock valued at $302,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Bassett Furniture Industries by 17.2% in the second quarter. Renaissance Technologies LLC now owns 719,999 shares of the company’s stock valued at $19,836,000 after acquiring an additional 105,599 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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