Bassett Furniture Industries, Incorporated (NASDAQ:BSET) to Issue 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 4.31%. The ex-dividend date is Friday, August 15th.

Bassett Furniture Industries has a payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Equities 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 1.6%

BSET traded up $0.29 on Friday, hitting $18.58. The company's stock had a trading volume of 36,351 shares, compared to its average volume of 24,479. The company's 50 day simple moving average is $16.53 and its 200-day simple moving average is $15.88. The firm has a market cap of $161.46 million, a P/E ratio of 64.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19. Bassett Furniture Industries has a 12 month low of $12.11 and a 12 month high of $19.75.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Bassett Furniture Industries by 97.4% during the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company's stock worth $379,000 after acquiring an additional 12,258 shares in the last quarter. Jane Street Group LLC lifted 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 during the period. Finally, Empowered Funds LLC lifted its position 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. Hedge funds and other institutional investors own 54.40% of the company's stock.

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.