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Bassett Furniture Industries Inc. (BSET) Shares Bought by North Star Investment Management Corp.
April 11th, 2019 - Comments Off on Bassett Furniture Industries Inc. (BSET) Shares Bought by North Star Investment Management Corp. - Filed Under - by Nicole Kennedy
North Star Investment Management Corp. boosted its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 4.6% in the first quarter, HoldingsChannel.com reports. The firm owned 68,025 shares of the company's stock after purchasing an additional 3,000 shares during the quarter. North Star Investment Management Corp.'s holdings in Bassett Furniture Industries were worth $1,116,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY acquired a new stake in Bassett Furniture Industries in the fourth quarter worth approximately $73,000. MetLife Investment Advisors LLC acquired a new stake in shares of Bassett Furniture Industries during the 4th quarter valued at $100,000. Meeder Asset Management Inc. lifted its position in shares of Bassett Furniture Industries by 30.6% during the 4th quarter. Meeder Asset Management Inc. now owns 8,779 shares of the company's stock valued at $176,000 after acquiring an additional 2,058 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Bassett Furniture Industries by 43.8% during the 4th quarter. Rhumbline Advisers now owns 14,676 shares of the company's stock valued at $294,000 after acquiring an additional 4,473 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Bassett Furniture Industries by 33.8% during the 3rd quarter. First Trust Advisors LP now owns 15,328 shares of the company's stock valued at $326,000 after acquiring an additional 3,872 shares during the last quarter. Hedge funds and other institutional investors own 70.68% of the company's stock.
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BSET has been the subject of a number of recent research reports. ValuEngine downgraded Bassett Furniture Industries from a "hold" rating to a "sell" rating in a research report on Thursday, January 17th. Zacks Investment Research downgraded Bassett Furniture Industries from a "hold" rating to a "strong sell" rating in a research report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of "Hold" and an average target price of $21.00.
In other news, SVP Mark S. Jordan sold 3,100 shares of the stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total value of $58,993.00. Following the completion of the sale, the senior vice president now owns 17,020 shares in the company, valued at $323,890.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Warden, Jr. bought 5,000 shares of Bassett Furniture Industries stock in a transaction dated Friday, April 5th. The stock was acquired at an average price of $17.10 per share, with a total value of $85,500.00. Following the acquisition, the director now directly owns 32,121 shares of the company's stock, valued at $549,269.10. The disclosure for this purchase can be found here. 6.54% of the stock is owned by corporate insiders.
Shares of NASDAQ:BSET opened at $17.66 on Thursday. Bassett Furniture Industries Inc. has a one year low of $15.96 and a one year high of $30.05. The firm has a market cap of $182.10 million, a PE ratio of 18.21 and a beta of 0.61.
Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. Bassett Furniture Industries had a return on equity of 5.38% and a net margin of 2.09%. The company had revenue of $120.84 million during the quarter, compared to the consensus estimate of $118.17 million. Sell-side analysts forecast that Bassett Furniture Industries Inc. will post 0.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.125 dividend. 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 2.83%. Bassett Furniture Industries's payout ratio is currently 51.55%.
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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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