BlackRock Inc. Raises Stake in Bassett Furniture Industries Inc. (BSET)

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BlackRock Inc. grew its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 4.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 787,953 shares of the company’s stock after acquiring an additional 33,581 shares during the period. BlackRock Inc. owned approximately 0.07% of Bassett Furniture Industries worth $15,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSET. Renaissance Technologies LLC grew its stake in Bassett Furniture Industries by 7.4% during the 3rd quarter. Renaissance Technologies LLC now owns 773,000 shares of the company’s stock worth $16,426,000 after purchasing an additional 53,001 shares in the last quarter. North Star Investment Management Corp. grew its stake in Bassett Furniture Industries by 54.8% during the 4th quarter. North Star Investment Management Corp. now owns 65,025 shares of the company’s stock worth $1,303,000 after purchasing an additional 23,025 shares in the last quarter. Marshall Wace LLP acquired a new position in Bassett Furniture Industries during the 3rd quarter worth $366,000. LSV Asset Management grew its stake in Bassett Furniture Industries by 185.6% during the 4th quarter. LSV Asset Management now owns 25,417 shares of the company’s stock worth $509,000 after purchasing an additional 16,517 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Bassett Furniture Industries by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 488,908 shares of the company’s stock worth $10,389,000 after purchasing an additional 15,527 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on BSET. Zacks Investment Research cut Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 9th. ValuEngine raised Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $21.00.

In other news, SVP Mark S. Jordan sold 3,100 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total transaction of $58,993.00. Following the completion of the transaction, the senior vice president now directly owns 17,020 shares of the company’s stock, valued at approximately $323,890.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William C. Warden, Jr. acquired 5,000 shares of the stock in a transaction dated Friday, April 5th. The shares were acquired at an average cost of $17.10 per share, with a total value of $85,500.00. Following the completion of the transaction, the director now owns 32,121 shares in the company, valued at approximately $549,269.10. The disclosure for this purchase can be found here. Corporate insiders own 6.54% of the company’s stock.

BSET opened at $17.11 on Wednesday. Bassett Furniture Industries Inc. has a 12 month low of $15.96 and a 12 month high of $30.05. The firm has a market cap of $188.72 million, a P/E ratio of 17.64 and a beta of 0.61.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.07. The business had revenue of $120.84 million during the quarter, compared to analysts’ expectations of $118.17 million. Bassett Furniture Industries had a return on equity of 5.38% and a net margin of 2.09%. Analysts anticipate that Bassett Furniture Industries Inc. will post 0.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.50 annualized dividend and a dividend yield of 2.92%. Bassett Furniture Industries’s dividend payout ratio is currently 51.55%.

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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.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Bassett Furniture Industries (NASDAQ:BSET)

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