Bassett Furniture Industries Inc. (BSET) Stake Boosted by Wells Fargo & Company MN
Wells Fargo & Company MN boosted its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 47.6% during the third quarter, Holdings Channel reports. The institutional investor owned 13,456 shares of the company’s stock after purchasing an additional 4,340 shares during the quarter. Wells Fargo & Company MN’s holdings in Bassett Furniture Industries were worth $508,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Cadence Capital Management LLC raised its position in Bassett Furniture Industries by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 32,877 shares of the company’s stock valued at $1,239,000 after buying an additional 1,599 shares during the last quarter. JPMorgan Chase & Co. raised its position in Bassett Furniture Industries by 441.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock valued at $178,000 after buying an additional 3,767 shares during the last quarter. EAM Investors LLC acquired a new stake in Bassett Furniture Industries in the 3rd quarter valued at approximately $1,653,000. Macquarie Group Ltd. acquired a new stake in Bassett Furniture Industries in the 3rd quarter valued at approximately $776,000. Finally, ClariVest Asset Management LLC acquired a new stake in Bassett Furniture Industries in the 3rd quarter valued at approximately $366,000. 71.88% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on BSET shares. ValuEngine lowered Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Finally, Zacks Investment Research raised Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, December 28th.
Shares of Bassett Furniture Industries Inc. (NASDAQ BSET) opened at $33.95 on Thursday. Bassett Furniture Industries Inc. has a 1 year low of $24.90 and a 1 year high of $41.30. The stock has a market capitalization of $371.62, a P/E ratio of 21.90 and a beta of 1.05.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Friday, January 19th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The company had revenue of $118.23 million for the quarter, compared to analyst estimates of $118.22 million. Bassett Furniture Industries had a return on equity of 9.00% and a net margin of 4.03%. During the same period last year, the firm earned $0.47 EPS. equities research analysts anticipate that Bassett Furniture Industries Inc. will post 1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, February 8th. Bassett Furniture Industries’s dividend payout ratio (DPR) is 25.88%.
About Bassett Furniture Industries
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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