Allianz Asset Management AG maintained its position in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,887 shares of the company’s stock at the end of the fourth quarter. Allianz Asset Management AG owned about 0.14% of Bassett Furniture Industries worth $453,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in BSET. PNC Financial Services Group Inc. boosted its stake in shares of Bassett Furniture Industries by 88.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,288 shares of the company’s stock valued at $170,000 after buying an additional 3,424 shares during the period. Smith Asset Management Group LP boosted its stake in shares of Bassett Furniture Industries by 2.0% in the third quarter. Smith Asset Management Group LP now owns 10,170 shares of the company’s stock valued at $236,000 after buying an additional 200 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Bassett Furniture Industries by 0.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,189 shares of the company’s stock valued at $371,000 after buying an additional 77 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Bassett Furniture Industries during the third quarter valued at $378,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at $449,000. Institutional investors and hedge funds own 70.80% of the company’s stock.
Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) remained flat at $29.30 on Friday. 22,569 shares of the company traded hands. Bassett Furniture Industries Inc. has a 12-month low of $22.42 and a 12-month high of $31.75. The firm has a 50 day moving average of $26.84 and a 200-day moving average of $27.27. The stock has a market capitalization of $314.10 million, a price-to-earnings ratio of 20.48 and a beta of 1.25.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Thursday, March 30th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.02. Bassett Furniture Industries had a net margin of 3.66% and a return on equity of 8.88%. The company had revenue of $105.90 million for the quarter, compared to the consensus estimate of $108.90 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Analysts expect that Bassett Furniture Industries Inc. will post $1.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 12th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. Bassett Furniture Industries’s payout ratio is currently 27.40%.
Several brokerages have issued reports on BSET. Zacks Investment Research upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, April 3rd. Stifel Nicolaus boosted their target price on Bassett Furniture Industries from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, January 20th.
In other news, SVP David C. Baker sold 6,091 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $26.40, for a total value of $160,802.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 10,460 shares of company stock worth $293,419. Insiders own 6.40% of the company’s stock.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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