Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Announces No Dividend of $1.50
Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Rating) declared a None dividend on Friday, March 11, Zacks reports. Investors of record on Wednesday March 23 will receive a dividend of 1.50 per share on Wednesday April 6. The ex-dividend date is Tuesday, March 22. This is an increase from Bassett Furniture Industries’ previous None dividend of $0.25.
Bassett Furniture Industries has increased its dividend payout by 4.1% over the past three years and has increased its dividend each year for the past 1 consecutive years. Bassett Furniture Industries has a dividend payout ratio of 23.1%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Bassett Furniture Industries to earn $2.42 per share next year, meaning the company should continue to be able to cover its $0.56 annual dividend with a payout ratio. expected future of 23.1%.
BSET shares opened at $20.43 on Monday. The company has a 50-day moving average of $16.91 and a two-hundred-day moving average of $17.44. The company has a market capitalization of $199.58 million, a PE ratio of 11.16, a growth price-earnings ratio of 0.67 and a beta of 1.67. Bassett Furniture Industries has a 1 year low of $13.16 and a 1 year high of $37.00.
Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last reported results on Monday, January 31. The company reported EPS of $0.52 for the quarter, beating the consensus estimate of $0.45 by $0.07. Bassett Furniture Industries achieved a net margin of 3.71% and a return on equity of 11.27%. As a group, sell-side analysts expect Bassett Furniture Industries to post 1.91 EPS for the current fiscal year.
In related news, director William C. Warden, Jr. purchased 5,000 shares of the company in a transaction that took place on Tuesday, February 22. The shares were acquired at an average price of $16.17 per share, for a total transaction of $80,850.00. The acquisition was disclosed in a filing with the SEC, available on the SEC’s website. Insiders of the company own 7.20% of the shares of the company.
A number of institutional investors have recently changed their positions in BSET. Invesco Ltd. increased its stake in Bassett Furniture Industries by 10.5% in Q3. Invesco Ltd. now owns 38,552 shares of the company worth $698,000 after acquiring 3,650 additional shares last quarter. Morgan Stanley increased its stake in shares of Bassett Furniture Industries by 50.5% during the third quarter. Morgan Stanley now owns 14,861 shares of the company worth $269,000 after buying 4,985 additional shares in the last quarter. Royal Bank of Canada increased its equity stake in Bassett Furniture Industries by 16.6% during the third quarter. Royal Bank of Canada now owns 9,950 shares of the company valued at $180,000 after acquiring 1,413 more shares in the last quarter. UBS Group AG increased its stake in Bassett Furniture Industries by 52.8% in the third quarter. UBS Group AG now owns 2,457 shares of the company valued at $45,000 after buying an additional 849 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Bassett Furniture Industries by 147.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,997 shares in the company valued at $54,000 after purchasing an additional 1,785 shares in the last quarter. 62.40% of the shares are held by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a Tuesday, Jan. 4, report.
About Bassett Furniture Industries (Get an assessment)
Bassett Furniture Industries, Inc engages in the manufacturing, marketing and retailing of home furnishings. It operates through the following segments: Wholesale, Retail and Logistics Services. The Wholesale segment focuses on the design, manufacture, supply, sale and distribution of furniture products.
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