Alambic Investment Management L.P. grew its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,467 shares of the company’s stock after buying an additional 4,350 shares during the quarter. Alambic Investment Management L.P.’s holdings in Bassett Furniture Industries were worth $1,597,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Bassett Furniture Industries by 441.6% in the third quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock valued at $178,000 after buying an additional 3,767 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bassett Furniture Industries in the second quarter valued at $206,000. Alliancebernstein L.P. purchased a new position in shares of Bassett Furniture Industries in the second quarter valued at $224,000. Voya Investment Management LLC purchased a new position in shares of Bassett Furniture Industries in the second quarter valued at $272,000. Finally, Russell Investments Group Ltd. increased its position in shares of Bassett Furniture Industries by 22.5% in the third quarter. Russell Investments Group Ltd. now owns 7,765 shares of the company’s stock valued at $293,000 after buying an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 71.82% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub cut Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th. Zacks Investment Research upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, December 28th. Finally, ValuEngine cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Shares of Bassett Furniture Industries Inc. (NASDAQ BSET) opened at $32.40 on Tuesday. The company has a market capitalization of $358.20, a PE ratio of 19.06 and a beta of 0.84. Bassett Furniture Industries Inc. has a 52-week low of $24.90 and a 52-week high of $41.30.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Friday, January 19th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). The company had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $118.22 million. Bassett Furniture Industries had a return on equity of 9.00% and a net margin of 4.03%. During the same quarter in the prior year, the business posted $0.47 EPS. analysts expect that Bassett Furniture Industries Inc. will post 1.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, February 8th. Bassett Furniture Industries’s dividend payout ratio is presently 25.88%.
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.
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