California Public Employees Retirement System cut its position in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 41,500 shares of the company’s stock after selling 1,100 shares during the period. California Public Employees Retirement System owned approximately 0.38% of Bassett Furniture Industries worth $994,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of BSET. Bank of Montreal Can acquired a new stake in shares of Bassett Furniture Industries during the second quarter worth about $136,000. Smith Asset Management Group LP raised its stake in shares of Bassett Furniture Industries by 69.8% in the second quarter. Smith Asset Management Group LP now owns 9,970 shares of the company’s stock worth $239,000 after buying an additional 4,100 shares during the last quarter. KBC Group NV raised its stake in shares of Bassett Furniture Industries by 16.5% in the second quarter. KBC Group NV now owns 10,945 shares of the company’s stock worth $262,000 after buying an additional 1,553 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Bassett Furniture Industries by 0.5% in the second quarter. Suntrust Banks Inc. now owns 20,454 shares of the company’s stock worth $489,000 after buying an additional 98 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Bassett Furniture Industries by 15.2% in the second quarter. Strs Ohio now owns 22,800 shares of the company’s stock worth $545,000 after buying an additional 3,000 shares during the last quarter. 72.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) traded up 1.10% during mid-day trading on Tuesday, reaching $23.93. The company’s stock had a trading volume of 2,984 shares. Bassett Furniture Industries Inc. has a 52-week low of $22.42 and a 52-week high of $33.68. The company has a market capitalization of $258.47 million, a PE ratio of 15.85 and a beta of 1.04. The firm’s 50 day moving average is $24.56 and its 200-day moving average is $26.91.
Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Thursday, September 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $104.70 million for the quarter. Bassett Furniture Industries had a return on equity of 9.42% and a net margin of 3.80%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Analysts forecast that Bassett Furniture Industries Inc. will post $1.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 26.49%.
Separately, Zacks Investment Research lowered Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th.
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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