Bassett Furniture Industries Inc. (NASDAQ:BSET) has been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price objective of $39.00 for the company and are anticipating that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also given Bassett Furniture Industries an industry rank of 78 out of 265 based on the ratings given to related companies.
Several equities analysts have recently commented on BSET shares. Zacks Investment Research upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Thursday, December 28th. ValuEngine downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stifel Nicolaus restated a “hold” rating and issued a $39.00 price objective (up from $36.00) on shares of Bassett Furniture Industries in a research report on Saturday, September 30th. Finally, BidaskClub downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th.
The company also recently announced a special dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.35 dividend. This is an increase from Bassett Furniture Industries’s previous special dividend of $0.30. This represents a dividend yield of 1.17%. The ex-dividend date was Thursday, November 30th. Bassett Furniture Industries’s payout ratio is currently 25.73%.
In other Bassett Furniture Industries news, insider Jay R. Hervey sold 650 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $39.19, for a total transaction of $25,473.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Bassett III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $40.25, for a total value of $80,500.00. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC raised its position in Bassett Furniture Industries by 57.5% during the second quarter. Acrospire Investment Management LLC now owns 3,108 shares of the company’s stock valued at $118,000 after purchasing an additional 1,135 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Bassett Furniture Industries by 441.6% during the third 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. Dynamic Technology Lab Private Ltd bought a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $206,000. Alliancebernstein L.P. bought a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $224,000. Finally, Voya Investment Management LLC bought a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $272,000. Institutional investors and hedge funds own 71.83% of the company’s stock.
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Bassett Furniture Industries Company Profile
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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