Bassett Furniture Industries (NASDAQ:BSET) Upgraded at Sidoti

Sidoti upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on BSET. Wall Street Zen cut Bassett Furniture Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday. Finally, Zacks Research cut Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Trading Down 0.4%

Shares of BSET opened at $15.55 on Thursday. Bassett Furniture Industries has a 1 year low of $13.58 and a 1 year high of $19.75. The stock has a market cap of $135.13 million, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The stock’s 50-day moving average price is $16.25 and its two-hundred day moving average price is $16.56.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, October 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Bassett Furniture Industries had a return on equity of 4.66% and a net margin of 2.35%.The firm had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $79.89 million. During the same quarter last year, the business earned ($0.52) earnings per share. As a group, equities analysts forecast that Bassett Furniture Industries will post 0.75 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Friday, August 15th. Bassett Furniture Industries’s payout ratio is 88.89%.

Insider Buying and Selling at Bassett Furniture Industries

In related news, SVP John E. Bassett III sold 2,000 shares of Bassett Furniture Industries stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.56, for a total value of $37,120.00. Following the sale, the senior vice president owned 50,761 shares of the company’s stock, valued at approximately $942,124.16. This trade represents a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Group One Trading LLC acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $68,000. JPMorgan Chase & Co. acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $83,000. New York State Common Retirement Fund acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at approximately $106,000. Finally, Gradient Investments LLC acquired a new stake in Bassett Furniture Industries in the 3rd quarter valued at approximately $160,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.