Bassett Furniture Industries Inc. (NASDAQ:BSET) shot up 4.1% during trading on Thursday following a dividend announcement from the company. The company traded as high as $25.33 and last traded at $24.98, with a volume of 106,185 shares. The stock had previously closed at $23.99.
The newly announced dividend which will be paid on Friday, November 25th. Investors 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 yield of 1.67%. Bassett Furniture Industries’s dividend payout ratio is currently 26.49%.
Separately, Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 30th.
The stock has a 50 day moving average price of $24.68 and a 200 day moving average price of $27.33. The company has a market cap of $270.78 million, a price-to-earnings ratio of 16.60 and a beta of 1.03.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, September 29th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. The company earned $104.70 million during the quarter. Bassett Furniture Industries had a return on equity of 9.42% and a net margin of 3.80%. The company’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. On average, analysts forecast that Bassett Furniture Industries Inc. will post $1.45 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of BSET. Bank of Montreal Can purchased a new position in Bassett Furniture Industries during the second quarter worth approximately $136,000. Acrospire Investment Management LLC bought a new position in shares of Bassett Furniture Industries during the first quarter valued at about $273,000. Landscape Capital Management L.L.C. bought a new position in shares of Bassett Furniture Industries during the second quarter valued at about $218,000. Deere & Co. bought a new position in shares of Bassett Furniture Industries during the second quarter valued at about $237,000. Finally, Smith Asset Management Group LP raised its position 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 valued at $239,000 after buying an additional 4,100 shares during the period. 71.64% of the stock is currently owned by institutional investors.