Schwab Charles Investment Management Inc. lifted its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 15.4% in the second quarter, Holdings Channel reports. The institutional investor owned 23,287 shares of the company’s stock after purchasing an additional 3,100 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Bassett Furniture Industries were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. acquired a new stake in shares of Bassett Furniture Industries in the second quarter worth $227,000. Strs Ohio raised its stake in Bassett Furniture Industries by 25.2% during the 2nd quarter. Strs Ohio now owns 26,800 shares of the company’s stock valued at $738,000 after purchasing an additional 5,400 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Bassett Furniture Industries by 376.5% during the 1st quarter. Russell Investments Group Ltd. now owns 8,100 shares of the company’s stock valued at $246,000 after purchasing an additional 6,400 shares during the last quarter. Trexquant Investment LP acquired a new position in Bassett Furniture Industries during the 2nd quarter valued at $330,000. Finally, Dimensional Fund Advisors LP raised its stake in Bassett Furniture Industries by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 904,395 shares of the company’s stock valued at $27,448,000 after purchasing an additional 2,572 shares during the last quarter. Institutional investors and hedge funds own 72.97% of the company’s stock.
Several research firms recently commented on BSET. ValuEngine cut shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Stifel Nicolaus cut their target price 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. Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Finally, BidaskClub cut shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, August 31st. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Bassett Furniture Industries presently has an average rating of “Hold” and an average price target of $33.00.
NASDAQ:BSET opened at $20.13 on Friday. The firm has a market cap of $220.43 million, a P/E ratio of 16.44 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 earnings results on Thursday, September 27th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.14). The company 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%. Equities analysts predict that Bassett Furniture Industries Inc. will post 1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, November 8th. Bassett Furniture Industries’s payout ratio is currently 31.65%.
In other Bassett Furniture Industries news, Director John R. Belk purchased 3,306 shares of the stock in a transaction on Thursday, October 4th. The shares were purchased at an average price of $20.99 per share, with a total value of $69,392.94. Following the acquisition, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $338,127.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John R. Belk purchased 15,000 shares of the stock in a transaction on Friday, October 12th. The stock was acquired at an average cost of $20.99 per share, for a total transaction of $314,850.00. Following the acquisition, the director now directly owns 16,109 shares in the company, valued at $338,127.91. The disclosure for this purchase can be found here. 6.40% of the stock is owned by corporate insiders.
Bassett Furniture Industries Company 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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