First Trust Advisors LP bought a new position in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,964 shares of the company’s stock, valued at approximately $300,000. First Trust Advisors LP owned approximately 0.07% of Bassett Furniture Industries at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northern Trust Corp grew its position in Bassett Furniture Industries by 0.3% in the 2nd quarter. Northern Trust Corp now owns 124,123 shares of the company’s stock worth $4,711,000 after purchasing an additional 341 shares in the last quarter. Rhumbline Advisers grew its position in Bassett Furniture Industries by 4.6% in the 2nd quarter. Rhumbline Advisers now owns 12,087 shares of the company’s stock worth $459,000 after purchasing an additional 530 shares in the last quarter. Acrospire Investment Management LLC grew its position in Bassett Furniture Industries by 57.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,108 shares of the company’s stock worth $118,000 after purchasing an additional 1,135 shares in the last quarter. Federated Investors Inc. PA grew its position in Bassett Furniture Industries by 11.7% in the 2nd quarter. Federated Investors Inc. PA now owns 14,788 shares of the company’s stock worth $561,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Bassett Furniture Industries by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,854 shares of the company’s stock worth $4,511,000 after purchasing an additional 2,181 shares in the last quarter. 71.83% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $39.00 price objective (up from $36.00) on shares of Bassett Furniture Industries in a research report on Saturday, September 30th. ValuEngine upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, BidaskClub cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Saturday.

Bassett Furniture Industries, Incorporated (NASDAQ BSET) opened at $36.40 on Tuesday. The firm has a market cap of $388.08, a PE ratio of 22.74 and a beta of 1.04. Bassett Furniture Industries, Incorporated has a 52 week low of $24.90 and a 52 week high of $41.30.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Thursday, September 28th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. The firm had revenue of $114.30 million for the quarter, compared to analysts’ expectations of $110.65 million. Bassett Furniture Industries had a net margin of 4.09% and a return on equity of 9.17%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. analysts expect that Bassett Furniture Industries, Incorporated will post 1.76 EPS for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.35 dividend. This represents a yield of 1.17%. This is a boost from Bassett Furniture Industries’s previous special dividend of $0.30. The ex-dividend date is Thursday, November 30th. Bassett Furniture Industries’s payout ratio is presently 25.73%.

In related news, insider John E. Bassett III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $40.25, for a total transaction of $80,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Cohenour sold 9,900 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.50, for a total transaction of $381,150.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,550 shares of company stock worth $487,124. Corporate insiders own 6.40% of the company’s stock.

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About Bassett Furniture Industries

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.

Institutional Ownership by Quarter for Bassett Furniture Industries (NASDAQ:BSET)

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