Bassett Furniture Industries Inc. (NASDAQ:BSET) announced a quarterly dividend on Thursday, January 17th, Zacks reports. Stockholders of record on Friday, February 15th will be paid a dividend of 0.125 per share on Friday, March 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, February 14th.
Bassett Furniture Industries has increased its dividend payment by an average of 11.4% per year over the last three years and has increased its dividend every year for the last 6 years. Bassett Furniture Industries has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings.
Shares of Bassett Furniture Industries stock traded up $0.13 on Friday, reaching $18.62. 15,990 shares of the company were exchanged, compared to its average volume of 33,165. The firm has a market capitalization of $196.26 million, a PE ratio of 19.20 and a beta of 0.65. Bassett Furniture Industries has a fifty-two week low of $18.10 and a fifty-two week high of $34.95.
In related news, SVP Mark S. Jordan sold 3,100 shares of the company’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total transaction of $58,993.00. Following the transaction, the senior vice president now directly owns 17,020 shares of the company’s stock, valued at $323,890.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by insiders.
Several research analysts recently weighed in on the company. ValuEngine raised Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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