Bassett Furniture Industries (NASDAQ:BSET) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Bassett Furniture Industries (NASDAQ:BSET – Get Rating) in a research note published on Saturday. The firm issued a strong-buy rating on the stock.

Bassett Furniture Industries Trading Down 2.3 %

Bassett Furniture Industries stock traded down $0.43 during mid-day trading on Friday, hitting $17.87. The company’s stock had a trading volume of 40,667 shares, compared to its average volume of 19,980. The firm has a market capitalization of $159.94 million, a PE ratio of 2.60, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. Bassett Furniture Industries has a 1 year low of $14.20 and a 1 year high of $24.12. The stock’s fifty day moving average is $18.68 and its two-hundred day moving average is $18.09.

Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.33. The company had revenue of $121.02 million during the quarter, compared to analyst estimates of $110.20 million. Bassett Furniture Industries had a return on equity of 13.58% and a net margin of 13.46%. On average, equities analysts expect that Bassett Furniture Industries will post 1.57 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, May 11th. Bassett Furniture Industries’s dividend payout ratio (DPR) is 9.30%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Bassett Furniture Industries by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 751,059 shares of the company’s stock worth $12,438,000 after purchasing an additional 8,952 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Bassett Furniture Industries by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 686,615 shares of the company’s stock worth $11,370,000 after purchasing an additional 7,298 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Bassett Furniture Industries by 2.4% during the first quarter. Renaissance Technologies LLC now owns 447,261 shares of the company’s stock worth $7,407,000 after purchasing an additional 10,400 shares in the last quarter. Aegis Financial Corp acquired a new position in Bassett Furniture Industries during the fourth quarter worth $4,509,000. Finally, Gabelli Funds LLC lifted its stake in Bassett Furniture Industries by 1.2% during the first quarter. Gabelli Funds LLC now owns 195,300 shares of the company’s stock worth $3,234,000 after purchasing an additional 2,400 shares in the last quarter. 57.01% of the stock is currently owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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Bassett Furniture Industries, Inc engages in manufacturing, marketing, and retailing home furnishings. It operates through the Wholesale and Retail segments. The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of local furniture stores, regional furniture retailers, national department, chain stores, and single-vendor branded retailers.