Panagora Asset Management Inc. bought a new position in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) in the second quarter, HoldingsChannel reports. The firm bought 1,809 shares of the company’s stock, valued at approximately $28,000.
Several other large investors also recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its holdings in Bassett Furniture Industries by 249.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the company’s stock valued at $35,000 after acquiring an additional 1,509 shares during the period. Spark Investment Management LLC acquired a new stake in Bassett Furniture Industries during the 1st quarter valued at $244,000. Russell Investments Group Ltd. increased its holdings in Bassett Furniture Industries by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,474 shares of the company’s stock valued at $327,000 after purchasing an additional 2,643 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Bassett Furniture Industries by 14.9% in the 4th quarter. Bank of America Corp DE now owns 19,472 shares of the company’s stock valued at $390,000 after buying an additional 2,519 shares during the period. Finally, Strs Ohio increased its stake in shares of Bassett Furniture Industries by 21.2% in the 2nd quarter. Strs Ohio now owns 37,700 shares of the company’s stock valued at $574,000 after buying an additional 6,600 shares during the period. Hedge funds and other institutional investors own 70.39% of the company’s stock.
Several research analysts have recently issued reports on the company. ValuEngine upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Zacks Investment Research lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 1st.
Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Tuesday, July 2nd. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.24). Bassett Furniture Industries had a return on equity of 3.39% and a net margin of 1.29%. The business had revenue of $108.19 million for the quarter, compared to the consensus estimate of $115.39 million. On average, analysts predict that Bassett Furniture Industries Inc. will post 0.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, August 15th. Bassett Furniture Industries’s dividend payout ratio is 51.55%.
Bassett Furniture Industries 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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