Bassett Furniture Industries (BSET) Hits New 12-Month Low at $17.78

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Bassett Furniture Industries Inc. (NASDAQ:BSET) hit a new 52-week low 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.

Several equities research analysts have recently weighed in on BSET shares. Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 27th. ValuEngine upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research note on Friday, December 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.00.

The company has a market capitalization of $188.18 million, a PE 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.19). The firm had revenue of $116.65 million for 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%. As a group, analysts expect that Bassett Furniture Industries Inc. will post 0.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.50 dividend on an annualized basis and a yield of 2.81%. Bassett Furniture Industries’s dividend payout ratio is presently 51.55%.

In related news, SVP Mark S. Jordan sold 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total transaction of $58,993.00. Following the transaction, the senior vice president now owns 17,020 shares in the company, valued at approximately $323,890.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.54% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BSET. Walthausen & Co. LLC purchased a new position in Bassett Furniture Industries during the 3rd quarter worth approximately $3,392,000. Renaissance Technologies LLC grew its stake in Bassett Furniture Industries by 7.4% during the 3rd quarter. Renaissance Technologies LLC now owns 773,000 shares of the company’s stock worth $16,426,000 after buying an additional 53,001 shares during the last quarter. BlackRock Inc. grew its stake in Bassett Furniture Industries by 4.5% during the 4th quarter. BlackRock Inc. now owns 787,953 shares of the company’s stock worth $15,791,000 after buying an additional 33,581 shares during the last quarter. Algert Global LLC grew its stake in Bassett Furniture Industries by 94.1% during the 3rd quarter. Algert Global LLC now owns 52,570 shares of the company’s stock worth $1,117,000 after buying an additional 25,487 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Bassett Furniture Industries by 22.4% during the 4th quarter. Bank of New York Mellon Corp now owns 136,000 shares of the company’s stock worth $2,726,000 after buying an additional 24,870 shares during the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.

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Bassett Furniture Industries Company Profile (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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