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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) announced a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.20 per share on Friday, August 29th. This represents a $0.80 annualized dividend and a dividend yield of 4.37%.

Bassett Furniture Industries has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of Bassett Furniture Industries stock traded down $0.21 on Thursday, hitting $18.29. The company had a trading volume of 51,432 shares, compared to its average volume of 24,323. The stock has a market capitalization of $158.94 million, a price-to-earnings ratio of 63.07, a P/E/G ratio of 1.40 and a beta of 1.19. Bassett Furniture Industries has a 1 year low of $12.11 and a 1 year high of $19.75. The stock has a 50 day moving average of $16.50 and a 200-day moving average of $15.80.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last issued its quarterly earnings data on Wednesday, July 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $84,348 billion during the quarter, compared to the consensus estimate of $82.03 million. Bassett Furniture Industries had a return on equity of 1.48% and a net margin of 0.76%. During the same period in the prior year, the business posted ($0.19) earnings per share. Equities analysts anticipate that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Bassett Furniture Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th.

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in Bassett Furniture Industries by 7.9% during the first quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock valued at $437,000 after purchasing an additional 2,089 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Bassett Furniture Industries by 97.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company's stock worth $379,000 after buying an additional 12,258 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Bassett Furniture Industries by 87.9% during the first quarter. Jane Street Group LLC now owns 21,454 shares of the company's stock valued at $327,000 after purchasing an additional 10,037 shares in the last quarter. 54.40% of the stock is owned by institutional investors.

Bassett Furniture Industries Company Profile

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.