Bassett Furniture Industries, Incorporated (BSET) Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,329 shares of the company’s stock after selling 150 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Bassett Furniture Industries worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royce & Associates LP lifted its position in Bassett Furniture Industries by 18.4% during the second quarter. Royce & Associates LP now owns 1,238,752 shares of the company’s stock worth $47,011,000 after purchasing an additional 192,682 shares during the period. Gamco Investors INC. ET AL raised its stake in Bassett Furniture Industries by 6.8% during the second quarter. Gamco Investors INC. ET AL now owns 590,781 shares of the company’s stock worth $22,420,000 after acquiring an additional 37,816 shares in the last quarter. Renaissance Technologies LLC raised its stake in Bassett Furniture Industries by 1.0% during the second quarter. Renaissance Technologies LLC now owns 506,300 shares of the company’s stock worth $19,214,000 after acquiring an additional 5,100 shares in the last quarter. Vanguard Group Inc. raised its stake in Bassett Furniture Industries by 0.8% during the first quarter. Vanguard Group Inc. now owns 483,465 shares of the company’s stock worth $13,005,000 after acquiring an additional 3,978 shares in the last quarter. Finally, Teton Advisors Inc. raised its stake in Bassett Furniture Industries by 2.3% during the second quarter. Teton Advisors Inc. now owns 184,000 shares of the company’s stock worth $6,983,000 after acquiring an additional 4,095 shares in the last quarter. 71.67% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Bruce Cohenour sold 9,900 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.50, for a total value of $381,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Hervey sold 650 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $39.19, for a total value of $25,473.50. The disclosure for this sale can be found here. Insiders sold 12,550 shares of company stock valued at $487,124 in the last ninety days. 6.40% of the stock is currently owned by insiders.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) opened at $37.65 on Monday. The company has a market capitalization of $404.18, a PE ratio of 23.68 and a beta of 1.04. Bassett Furniture Industries, Incorporated has a 52 week low of $24.90 and a 52 week high of $41.30.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Thursday, September 28th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Bassett Furniture Industries had a return on equity of 9.17% and a net margin of 4.09%. The firm had revenue of $114.30 million during the quarter, compared to the consensus estimate of $110.65 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. equities research analysts anticipate that Bassett Furniture Industries, Incorporated will post 1.76 earnings per share for the current fiscal year.

The company also recently disclosed a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.35 dividend. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 1.17%. This is an increase from Bassett Furniture Industries’s previous special dividend of $0.30. Bassett Furniture Industries’s dividend payout ratio is currently 25.73%.

Several brokerages have commented on BSET. ValuEngine downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus reissued a “hold” rating and set a $39.00 target price (up previously from $36.00) on shares of Bassett Furniture Industries in a research note on Saturday, September 30th. Zacks Investment Research downgraded Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, BidaskClub downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th.

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Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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

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