Bank of New York Mellon Corp grew its holdings in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 22.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 136,000 shares of the company’s stock after buying an additional 24,870 shares during the period. Bank of New York Mellon Corp owned 1.29% of Bassett Furniture Industries worth $2,726,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. California Public Employees Retirement System raised its holdings in shares of Bassett Furniture Industries by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 43,888 shares of the company’s stock valued at $880,000 after buying an additional 1,436 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Bassett Furniture Industries by 7.9% in the third quarter. Teachers Advisors LLC now owns 20,933 shares of the company’s stock valued at $445,000 after buying an additional 1,533 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Bassett Furniture Industries by 30.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,779 shares of the company’s stock valued at $176,000 after buying an additional 2,058 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Bassett Furniture Industries by 17.6% in the fourth quarter. First Trust Advisors LP now owns 18,027 shares of the company’s stock valued at $361,000 after buying an additional 2,699 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Bassett Furniture Industries by 43.8% in the fourth quarter. Rhumbline Advisers now owns 14,676 shares of the company’s stock valued at $294,000 after buying an additional 4,473 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
In other news, Director William C. Warden, Jr. purchased 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were acquired at an average cost of $17.10 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director now directly owns 32,121 shares in the company, valued at approximately $549,269.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark S. Jordan sold 3,100 shares of the business’s stock in a transaction dated 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 $323,890.60. The disclosure for this sale can be found here. Insiders own 6.54% of the company’s stock.
Shares of Bassett Furniture Industries stock opened at $16.87 on Friday. Bassett Furniture Industries Inc. has a 52-week low of $15.96 and a 52-week high of $30.05. The stock has a market cap of $177.47 million, a PE ratio of 17.39 and a beta of 0.61.
Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, April 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. Bassett Furniture Industries had a net margin of 2.09% and a return on equity of 5.38%. The business had revenue of $120.84 million for the quarter, compared to analyst estimates of $118.17 million. Research analysts predict that Bassett Furniture Industries Inc. will post 0.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 dividend yield of 2.96%. Bassett Furniture Industries’s dividend payout ratio (DPR) is 51.55%.
A number of brokerages have recently commented on BSET. ValuEngine cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 9th. 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.00.
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Bassett Furniture Industries Company Profile
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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