North Star Investment Management Corp. purchased a new position in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 42,000 shares of the company’s stock, valued at approximately $892,000.
Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Bassett Furniture Industries by 10.9% in 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 in the last quarter. Millennium Management LLC grew its stake in Bassett Furniture Industries by 87.1% in the 2nd quarter. Millennium Management LLC now owns 77,851 shares of the company’s stock valued at $2,145,000 after buying an additional 36,240 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $446,000. Macquarie Group Ltd. grew its stake in Bassett Furniture Industries by 135.1% in the 2nd quarter. Macquarie Group Ltd. now owns 10,964 shares of the company’s stock valued at $302,000 after buying an additional 6,300 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Bassett Furniture Industries by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 719,999 shares of the company’s stock valued at $19,836,000 after buying an additional 105,599 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.
A number of research analysts recently weighed in on BSET shares. Zacks Investment Research lowered shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. ValuEngine lowered shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Stifel Nicolaus reduced their price objective on shares of Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, September 28th. Finally, BidaskClub lowered shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.00.
BSET opened at $20.95 on Friday. The firm has a market cap of $226.07 million, a PE ratio of 13.26 and a beta of 0.73. Bassett Furniture Industries Inc. has a one year low of $19.90 and a one year high of $40.95.
Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Thursday, September 27th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.14). The firm had revenue of $112.96 million for the quarter. Bassett Furniture Industries had a net margin of 2.47% and a return on equity of 7.07%. As a group, sell-side analysts anticipate that Bassett Furniture Industries Inc. will post 1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.39%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 31.65%.
Bassett Furniture Industries 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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