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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Thursday, July 16th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.20 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 14th.

Bassett Furniture Industries has increased its dividend payment by an average of 0.1%annually 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bassett Furniture Industries to earn $1.38 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 58.0%.

Bassett Furniture Industries Stock Up 0.4%

BSET opened at $21.78 on Friday. The firm has a market cap of $188.61 million, a P/E ratio of 34.03, a PEG ratio of 1.52 and a beta of 0.76. Bassett Furniture Industries has a 52 week low of $13.17 and a 52 week high of $22.26. The business’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $15.61.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $83.32 million. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, equities analysts expect that Bassett Furniture Industries will post 0.89 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of institutional investors and hedge funds have recently made changes to their positions in BSET. Aegis Financial Corp raised its position in shares of Bassett Furniture Industries by 5.2% in the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after buying an additional 25,878 shares during the period. Renaissance Technologies LLC grew its position in Bassett Furniture Industries by 4.0% during the first quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock valued at $4,304,000 after acquiring an additional 11,700 shares during the period. Geode Capital Management LLC increased its stake in Bassett Furniture Industries by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock worth $3,275,000 after acquiring an additional 2,796 shares during the last quarter. State Street Corp increased its position in Bassett Furniture Industries by 5.8% during the 4th quarter. State Street Corp now owns 119,643 shares of the company’s stock worth $2,005,000 after purchasing an additional 6,558 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Bassett Furniture Industries by 10.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock worth $1,538,000 after purchasing an additional 8,743 shares in the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

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.