Bassett Furniture Industries, Incorporated Plans Quarterly Dividend of $0.20 (NASDAQ:BSET)

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Thursday, March 12th. Investors of record on Friday, May 15th will be paid a dividend of 0.20 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, May 15th.

Bassett Furniture Industries has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Bassett Furniture Industries has a payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bassett Furniture Industries to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 60.2%.

Bassett Furniture Industries Stock Up 0.3%

Bassett Furniture Industries stock traded up $0.05 during mid-day trading on Friday, reaching $14.02. 363 shares of the company’s stock were exchanged, compared to its average volume of 21,763. The business’s fifty day simple moving average is $15.65 and its 200 day simple moving average is $15.81. The firm has a market capitalization of $121.24 million, a PE ratio of 19.50, a P/E/G ratio of 0.88 and a beta of 0.98. Bassett Furniture Industries has a one year low of $13.70 and a one year high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. The business had revenue of $88.67 million during the quarter, compared to the consensus estimate of $86.90 million. On average, sell-side analysts forecast that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nalls Sherbakoff Group LLC bought a new position in Bassett Furniture Industries in the 4th quarter worth about $46,000. Invesco Ltd. bought a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at about $175,000. Empowered Funds LLC lifted its holdings in shares of Bassett Furniture Industries by 10.1% in the fourth quarter. Empowered Funds LLC now owns 38,544 shares of the company’s stock worth $646,000 after buying an additional 3,543 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Bassett Furniture Industries by 10.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock valued at $1,538,000 after acquiring an additional 8,743 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Bassett Furniture Industries by 95.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after acquiring an additional 734 shares during the period. Institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.